KEY 


TO  THE 


'HOLESALE  SET  BUDGET 


i'8  BOOKKEEPING  AND  ACCOUNTANCY 


BY 


H.  ML  EOWE.  PH..D, 


This  key 


teaser  and 


must  not  be  gwen 


*    Return  it 


to  jfte  publish&r  wlim  no  longer  required 


THE  H.  M.  ROWP3  CO. 
BA.LTIMOBE,  MD, 


o 


H 


EDUCATION  DEFt/ 


INDEX  TO  COMPLEMENTARY  WORK 


Exercise. 

Date 
Called 
For. 

Page. 

Adjusting  Balances  between  Partners,  Exercises 
in                              

Mar    22 

90 

Adjustment  of  Interest  between  Partners  
Adjustment  of  Losses,  Grains,  Investments,  etc., 
between  Partners     

Mar.  25 
Mar    18 

89 
90 

Administrative  and  General  Expenses 

Feb       1 

70-71 

Calculating  Discounts,  Exercises  in  

Jan     15 

61 

Calculating  Discounts   Exercises  in 

Mar    14 

87 

Expense  Accounts,  Exercises  in  Analysis  of  

Feb     10 

76-78 

Insurance  Account,  Exercises  in  

Jan       7 

56-59 

Merchandise  Account,  Exercises  in  

Feb.     5 

72-75 

Merchandise  Accounts,  Exercises  in  

Mar      4 

86-87 

Merchandise  Accounts,  Exercises  in  Analysis  of  . 
Merchandise  Discounts,  Exercises  in  

Mar.     7 
Jan.    14 

87 
60-61 

Notes  and  Drafts,  Exercises  in  Entries  for  . 

Feb    19 

79-80 

Opening  Double  Entry  Books,  Exercises  in  

Jan.    24 

61-62 

Opening  Double  Entry  Books,  Exercises  in.  . 

Mar    16 

88-89 

Preparing  Statements,  Exercises  in  

Jan.    31 

1.  James  S.  Reese  &  Co  

63-64 

2    Thomas  A  Woods  &  Co 

65-66 

3.  Johnson  &  Clark  

67-68 

Percentage    Analysis    of     State- 
ments 

69 

Preparing  Statements,  Exercises  in  

Feb.      28 

1.  The  Wallace  Co 

82-83 

2.  C.  B.  Martin  &  Co  

84-85 

Percentage    Analysis     of     State- 
ments 

86 
86 

Preparing  Statements,  Exercises  in.  .  .  . 

Mar.  31 

1.  Harold  Wayne 

91 

2.  H.  M.  Grayson  

92 

3.  M.  Grace  

93 

4.  Rowe  Bros. 

94-95 

Proprietor's  and   Partner's    Personal   Accounts, 
Exercises  in  

61 

Selling  Expense,  Exercises  in  Analysis  of  

81 

Warehouse  Supplies  Account,  Exercises  in  

59-60 

NOTE  TO  TEACHER 

The  items  which  are  starred  in  the  March  work  are  those  items 
which  vary  when  the  varied  price  lists  are  used.  Items  not  starred 
do  not  vary. 


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Q  Q 


1  WHOLESALE  SET. 

REGULAR  WORK. 
Check  Book  Stubs,  January  1  to  31.      (Showing  daily  balances.) 


7832  71 

Deposit  Jan.    1...  13192  43  Check    Jan.    12..         1475      Checks  Jan.    22. 

Check    Jan.    3. . .        22  85  7317  96 

1317008  Check    Jan.    14..       125           Checks  Jan     24. 

Check    Jan.    4           395  97  7692  95 

1277411  Checks    Jan.  15..       36845      Proceeds  Jan.  24 . 

Check    Jan.    5. . .        17  71  7324  51 

1275640  Deposit  Jan.    15..     230788      Deposit  Jan.   25. 

Check    Jan.    6. . .      628  69  9532  39 

1212771  Checks  Jan.    17..      86452      Checks  Jan.    27. 

Checks  Jan.    7. . .     1287  16  8767  87 

1084055      Check    Jan.    18.. 21JL8      Check  Jan.      28. 

Checks  Jan.    8. . .      899  68  8746  69 

9940  87  Check    Jan.    19..        25           Check    Jan.    29. 

Check  Jan.    10...        2250  8721  69 

991837  Deposit  Jan.    20..      75346      Checks  Jan.    31. 

Checks  Jan.  11. . .    2085  66  9475  15 

783271  Checks  Jan.    21..      52675      Deposit  Jan.    31 

8948  40      Balance  Jan.    31 

Check  Book  Stubs,  February  1  to  28. 


Balance  Feb.  1. . 

Checks    Feb.  1.. 

Deposit  Feb.  1.. 

Checks    Feb.  2.. 

Checks    Feb.  3.. 

Proceeds  Feb.  4.. 

Checks    Feb.  5.. 

Check      Feb.  7.. 

Check      Feb.  8.. 

Check      Feb.  9.. 


4069  94 
669  78 
3400  16 
1000 

4400  16 
3251  70 
Il48  46 

981  89 

166  57 
1446  89 
1613  46 

294 
1319  46 

45080 

868  66 
66  50 

802  16 
13  05 

789  11 


Check  Feb.  10. 
Deposit  Feb.  10. 
Loan  Feb. 11. 
Checks  Feb. 11. 
Checks  Feb.  12. 
Proceeds  Feb.  12 . 
Checks  Feb.  15. 
Deposit  Feb.  15. 
Check  Feb.  16. 
Check  Feb.  17. 


789  11 

164  70 

624  41 

2122  21 

2746  62 

5000 

7746  62 

3868  35 

3878  27 

2578  07 

1300  20 

66207 

1962  27 

310  80 

1651  47 

1477  49 

3128  96 

2  09 

3126  87 

980  74 

2146  13 


Checks 

Col. 

Col. 

Checks 

Deposit 

Check 

Checks 

Checks 

Deposit 
Balance 


Feb.  19. 
Feb.  19. 
Feb. 21. 
Feb.  22. 
Feb.  23. 
Feb.  25. 
Feb.  26. 
Feb.  28. 

Feb.  28. 
Feb.  28. 


Jan.  1-31. 
Purchases  Book. 


WHOLESALE  SET. 

REGULAR  WORK.         Jan.  1-31. 
Journal. 


3.  Great  Western  F.  &  F.  Co ...     873  28 

3.  Martin  Gillet  &  Co 412  47 

4.  B.  F.  Crider 616 

4.  B.  Fischer  &  Co 540  50 

5.  Platt  &  Co 150  64 

6.  J.  T.  Benson  &  Co 628  69 

11.  Northwestern  Con.  M.  Co. .  1806  68 
17.  B.  Fischer  &  Co 865  25 

19.  The  Quaker  Oats  Co 499  50 

20.  Lilly,  Dungan  &  Co 2820  20 

21.  Charles  Gulden 516  25 

22.  Northwestern  Con.  M.  Co. .  2781  72 

24.  Maybank  &  Co 513  20 

28.  Martin  Gillet  &  Co 489  35 

28.  Francis  H.  Leggett  &  Co. . .     255  75 
31.  Purchases...  ..Dr.  1376948 


Jan.  1-31. 
Returned  Sales. 

12.  Dennis  &  Proctor 23  50 

20.  William  R.  Harper  &  Son. ... .     36  50 

Sales  %  Dr.  Accounts  Receiv- 
able Cr. . .  60  00 


Jan.  1-31. 
Sales  Rebates  &  Allowances 

25.  Parker  Bros 2  48 

28.  South  Side  Grocery  Co 4 


Sales  Reb.    &  All.  Dr.   Ac- 
counts Rec.  Cr. . . 


6.48 


Jan.  1. 

Interest 

James  S.  Reese,  Cap.  %. 
1. 

James  S.  Reeie,  Cap.  % 

Interest 

31. 

Expense 

James  S.  Reese,  Per.  %.. 
Wm.  T.  Ha  ris,  Per.  %.. 
31. 

Traveling  Expense 

Ben  Myers,  Salesman 

31. 

Selling  Expense 

Ben  Myers,  Salesman... . 
31. 

Insurance  Expense 

Insurance 

31. 

Sundry  Resource  Invent 

Interest 

Warehouse  Supplies 

Expense 

31. 
Inventory 


Purchase  Discounts 

Interest 

Purchases 

Freight-In 

Warehouse  Supplies 

Warehouse  Labor 

Sales  Reb.  &  Allow 

Sales  Discounts 

Selling  Expense 

Traveling  Expense 

Expense 

Insurance  Expense 

James  S.  Reese,  Cap.  %. 

Wm.  T.  Harris.  Cap.  %. 
31. 

Interest 

Warehouse  Supplies 

Expense 

Sundry  Resource  Inv. . . . 


General  Ledger. 


Dr. 

2847 

15  66  i 
300 

6  25 
40 
3  50 
104  85 


7619  37 

8040  08 

58  79 

9  51 


23  25 
41.60 
40 


Cr. 


28  47 


15  66 


150 
150 


6  25 
40 
3  50 


23  25 
41  60 
40 


13769  48 
351  07 
61  37 
72 
6  48 
33  21 
79 

6  25 

620  73 

3  50 

483  11 

241  55 


104  85 


WHOLESALE  SET. 

REGULAR  WORK. 
Jan.  1-31.     Cash  Receipts. 


Cash  Dr. 

Sales  Disc't 
Dr. 

Sales  Ledger 
Cr. 

Notes  Rec. 
Cr. 

1.  James  S.  Reese,  Cap.  %.  .  . 
1.  Wm.  T.  Harris,  Cap.  %.  .  .  . 
10.  Walton  &  Carter  
14.  Geo.  M.  Daniels  &  Co  
15.  Robert  Howe  

8192  43 
5000 
283  20 
92  56 
148  57 
260  52 
119  30 
1403  73 
151  80 
241 
151  67 
208  99 
208  61 
262  35 
370  33 
249  68 
1063  92 
164  64 
100 

94 
3  03 

3  10 

1  53 
8  71 
8  69 
2  65 

2  52 

2  04 
33  21 

283  20 
93  50 
151  60 
260  52 
119  30 
1403  73 
154  90 
241 
153  20 
217  70 
217  30 
265 

252  20 
1063  92 
164  64 
102  04 

371  26 

15.  Robert  Howe  

15.  Dennis  &  Proctor  

15.  South  Side  Gro.  Co  

17.  N.  Reding  &  Sons  .  . 

17.  Brainerd  Gro.  Co  
18.  S.  S.  Perkins  &  Co  
20  Dexter  Bros 

24.  Martindale  &  Co  
24  Martindale  &  Co 

24  Notes  Receivable 

25  Dexter  Bros 

25.  Parker  Bros  
28.  Thomas  Warren  
29.  Wm.  R.  Harper  &  Son  

18673  30 

5143  75 

371  26 

Jan.  1-31.    Notes  Receivable  Book. 


Date 
Rec'd. 

Date  of  Note 
or  Accept. 

Time. 

Due. 

Amount. 

Account  Cr. 

1 

1 

26 
29 

Oct.  25 
Nov.  10 
Jan.  18 
Jan.  19 

4  mo. 
90  ds. 
60  ds. 
30  ds. 

Feb.  25 
Feb.    8 
Mar.  19 
Feb.  18 

1423  50 
371  26 
665  95 
100  46 

James  S.  Reese,  Cap.  % 
James  S.  Reese,  Cap.  % 
Walton  &  Carter 
Wm.  R.  Harper  &  Son 

Notes  Receivable,  Dr. 

2561  17 

Accounts  Receivable,  Cr.  766  41 

Jan.   1-31.     Notes  Payable  Book. 


Date 
Given. 

Date  of  Note 
or  Accept. 

Time.        Due. 

Amount. 

Account  Cr. 

— 

20 
24 

Jan.  20 
Jan.  24 

10  ds. 
3ds. 

Jan.  30 
Jan.  27 

2820  20 
513  20 

Lilly,  Dungan  &  Co. 
Maybank  &  Co. 

Notes  Payable,  Cr. 

3333  40 

WHOLESALE  SET. 
REGULAR  WORK. 

Jan.  1-31. 
Gash  Payments. 


Cash  Cr. 

Pch. 
Disc't 
Cr. 

Gen'l 
Ledger 
Dr. 

Expense 
Dr. 

3 

Expense  

22  35 

22  35 

4. 
<5 

Martin  Gillet  &  Co  
Freight-In 

395  97 
17  71 

16  50 

412  47 

6. 

7 

J.  T.  Benson  &  Co  
B  F  Crider 

628  69 
609  84 

6  16 

616 

7. 
7 

B.  Fischer  &Co  
Platt  &  Co 

529  69 
147  63 

10  81 
3  01 

54050 
150  64 

8 

Insurance  

26  40 

8 

Gt.  Western  F.  &  F.  Co  

873  28 

10 

Expense  

22  50 

22  50 

11 

Furn.  &  Fixt.  Invest  

188  75 

11. 
11. 
1? 

Northwestern  Con.  Mill.  Co  
Freight-In  
Expense 

1806  68 
90  23 
14  75 

14  75 

14 

Furn.  &  Fixt.  Invest  

125 

15 

Expense 

125 

125 

15. 
15 

Insurance  
Freight-In. 

15  60 
2  25 

15 

Selling  Expense  

3  60 

15 

Expense  

66 

66 

15 

Warehouse  Labor  

36 

15. 
15 

James  S.  Reese,  Per.  %  
Wm.  T.  Harris,  Per    % 

60 
60 

17 

B.  Fischer  &  Co  

847  94 

17  31 

865  25 

17 

Freight-In  ...                      .... 

16  58 

18 

Warehouse  Supplies 

21  18 

19. 

?1 

Ben  Myers,  Salesman  
Charles  Gulden 

25 

516  25 

?,1 

Selling  Expense  

10  50 

22. 

?,?, 

Northwestern  Con.  Mill.  Co...  . 
Freight-In  

2781  72 
134  98 

<?4 

Freight-In 

82  75 

?4 

Warehouse  Supplies  

30  75 

?4 

Expense 

31  25 

31  25 

24 

Warehouse  Supplies  

29  50 

24. 

27. 
27 

Interest  
James  S.  Reese,  Per.  %  
Notes  Payable  

21  25 
513  20 

93 

27. 

Quaker  Oats  Co  

494  50 

5 

499  50 

Continued  Page  9 


WHOLESALE  SET. 
REGULAR  WORK. 

January. 
Final  Trial  Balance,  January  31, 19    .     James  S.  Reese  &  Co. 


Cash  

4069  94 

Notes  Receivable  

2189  91 

Accounts  Receivable  

2123  44 

Furniture  &  Fixtures  

313  75 

Insurance  

38  50 

James  S.  Reese,  Personal  %  

6  25 

Ben  Myers,  Salesman        .    .    . 

18  75 

Sundry  Resource  Inventories.  .  . 

104  85 

Martin  Gillet  &  Co  

489  35 

Francis  H.  Leggett  &  Co 

255  75 

Wm.  T.  Harris,  Personal  % 

15 

James  S.  Reese,  Capital  % 

10000 

Wm.  T.  Harris,  Capital  % 

5000 

Purchases  

13769  48 

Sales  

8040  08 

Freight-in  

351  07 

Warehouse  Supplies  

61  37 

Warehouse  Labor  

72 

Purchase  Discounts  

58  79 

Sales  Rebates  &  Allowances.  .  . 

6  48 

Sales  Discounts  

33  21 

Selling  Expense  

79 

Traveling  expense  

6  25 

Expense  

620  73 

Interest  

9  51 

Insurance  Expense  

3  50 

23868  48 

23868  48 

Sales  Ledger  Balances,  January  31. 


Dr. 

Cr. 

Geo.  M.  Daniels  &  Co  

216  28 

S.  S.  Perkins  &  Co  
Martindale  &  Co  

306  25 
1076  50 

South  Side  Grocery  Co  

299  26 

John  B.  Davis  

225  05 

Accounts  Receivable  Dr 

2123  44 

WHOLESALE  SET. 


REGULAR  WORK. 
Jan.  1-31.    Cash  Payments— Continued. 


28.  Freight-In  

4  17 

29.  Selling  Expense 

17  50 

31.  Warehouse  Supplies  

21  54 

31.  Freight-In    . 

2  40 

31.  Selling  Expense  
31.  Expense.         ... 

7  40 

66 

66 

31.  Warehouse  Labor 

36 

31.  Notes  Payable  
31.  James  S.  Reese,  Per.  %  
31.  Wm.  T.  Harris,  Per.  %  

2820  20 
75 
75 

31.  Ben  Myers,  Salesman 

40 

31.  Expense  

7  50 

7  50 

31.  Expense  

5  38 

5  38 

Balance 

14603  36 
4069  94 

58  79 

3085  29 

360  73 

18673  30 

1. 

2. 

3. 

4. 

5. 

6. 

7. 

8. 

9. 
10. 
11. 
12. 
13. 
14. 
15. 
16. 
17. 
18. 
19. 
20. 
21. 
22. 


Jan.  1-31.    Abstract  of  Sales. 

Walton  &  Carter 

Geo.  M.  Daniels  &  Co 

Robert  Howe 

Robert  Howe 

N.  Reding  &  Sons 

S.  S.  Perkins  &  Co 

Dennis  &  Proctor 

Dexter  Bros 

Martindale  &  Co 

Martindale  &  Co 

South  Side  Grocery  Co 

Dexter  Bros 

Brainerd  Grocery  Co 

Walton  &  Carter 

Wm.  R.  Harper  &  Son 

Parker  Bros 

South  Side  Grocery  Co 

John  B.  Davis 

Martindale  &  Co 

S.  S.  Perkins  &  Co 

Geo.  M.  Daniels  &  Co 

Thomas  Warren 

Accounts  Receivable Dr. 

Sales. . .  . .  Cr. 


283  20 
93  50 
151  60 
260  52 
154  90 
153  20 
142  80 
217  70 
217  30 
265 

1403  73 
252  20 
241 

665  95 
239 

1066  40 
303  36 
225  05 

1076  50 
306  25 
216  28 
164  64 

8100  08 

8100  08 


10  January. 

Trading  and  Profit  &  Loss  Statement,  January  31,  19 
James  S.  Reese  &  Co. 


Returns. 

Gross  Sales 

Less,  -  Returned  sales 

Less,  -  Sales  rebates  and  allowances. 

Less,  -  Sales  discounts 

Net  returns  from  sales 

Costs. 

Purchases 

Freight-In .' 

Warehouse  supplies 

Warehouse  labor 

Total  cost  of  purchases 

Less,  -  Purchase  discounts 

Net  cost  of  purchases 

Less,  -  Inventory  Jan.  31,  19     

Cost  of  merchandise  sold. . 


Gross  trading  profit  for  the  month. 

Incomes. 
Interest. . . 


Total  income 

Expenses. 

Selling  expenses 

Delivery  charges 11 

Credit  reports 10  50 

Advertising 17  50 

Salesman's  salary  (Ben  Myers) 40 

Traveling  expense  (Ben  Myers) 6  25 

Administrative  expenses 

Books  and  stationery 13  60 

Salaries  of  office  help 132 

Postage 5  35 

Long  distance  telephone  calls 2  15 

Salaries  of  partners 300 

General  expenses 

Coal 22  50 

Papering  office 14  75 

Rent 125 

Gas  and  electric  light 5  38 

Insurance  expense 

Total  expenses 

Net  profit  for  the  month 

Distribution  of  profit 

James  S.  Reese,  Capital  %,  f  profit 

Wm.  T.  Harris,  Capital  %,  £  profit 


8100  08 
60 


6  48 
33  21 


8040  08 
39  69 


800039 


13769  48 

351  07 

61  37 

72 


14253  92 

58  79 


14195  13 
7619  37 


85  25 


453  10 


167  63 
3  50 


483  11 
241  55 


6575  76 
^424  63 

9  51 
1434  14 


709  48 
724  66 


724  66 


724  66 


WHOLESALE  SET. 

REGULAR  WORK. 

January. 

Statement  of  Resources  and  Liabilities,  January  31,  19 
James  S.  Reese  &  Go. 


11 


Resources. 
Cash                                                           

4069  94 

Merchandise,  per  inventory  Jan.  31,  19     
Notes  receivable                              

7619  37 
2189  91 

Accounts  receivable  

2123  44 

Total  current  resources  

16002  60 

Furniture  and  fixtures  

313  75 

Insurance  

38  50 

James  S.  Reese,  Personal  %  
Ben  Myers,  Salesman  
Sundry  resource  inventories 
Interest  accrued  on  notes  receivable  . 

6  25 

18  75 

23  25 

Warehouse  supplies   per  inventory 

41  60 

Expense,  office  supplies  &  stationery  

40 

168  35 

Total  resources                                 

16484  76 

Liabilities. 

Accounts  payable 
Martin  Gillet  &  Co 

489  35 

Francis  H.  Leggett  &  Co  

255  75 

Total  current  liabilities 

745  10 

Wm.  T.  Harris,  Personal  %  

15 

Total  liabilities  

760  10 

Net  resources 

15724  66 

Represented  by 
James  S.  Reese,  Capital  %  10000  00 

Add  2/3  profit  for  January  483  11 

10483  11 

Wm.  T.  Harris,  Capital  %  5000  00 
Add  1/3  nrofit  for  Januarv.  .                 .  241  55 

5241  55 

15724  66 

Percentage  Analysis  of  Trading  and  Profit  &  Loss  Statement,  Jan.  31. 


3.  Per 

5.  Per 

6.  Per 

7.  Per 
9.  Per 

10.  Per 

11.  Per 

12.  Per 

13.  Per 

14.  Per 

15.  Per 


16.  Per 


18.  Per 


18.  P 


cent  of  gross  trading  profit 

cent  of  net  trading  profit 

cent  of  sales  returned 

cent  of  rebates  and  allowances  on  sales. 

cent. of  cost  of  purchases  represented  by  warehouse  expenses 

cent  of  purchase  discounts  on  purchases 

cent  of  sales  discounts  on  sales 

cent  on  net  sales  required  to  meet  selling  expenses 

cent  of  net  sales  required  to  meet  (a)  administrative  expenses — 

(b)  general  expenses 

cent  of  gross  trading  profit  required  to  meet  all  expenses 

cent  of  gross  trading  profit  required  to  meet  (a)  selling  expenses . . 

(b)  admin,  expenses. 

(c)  general  expenses . 
cent  to  be  added  to  cost  price  to  meet  (a)  selling  expenses 

(b)  admin,  expenses 

(c)  general  expenses 

cent  of  net  profit  on  capital  invested 


21.66% 

20.37% 

.74% 

.08% 

-94% 

.41% 

-41% 

1.06% 

5.64% 

2.08% 

49.80% 

5.98% 

31.80% 

11.77% 

1.30% 

6.89% 

2.55% 

4.83% 


12 


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14 


WHOLESALE  SET, 

REGULAR  WORK. 
February. 


Feb.  1-28. 
Purchases  Book. 

2.  Platt  &  Co 991 

3.  Northwestern  Con.  Mill.  Co 975  24 

4.  B.  Fischer  &  Co 3396    ' 

7.  The  Boesger  Phelps  Co 460 

10.  Charles  Gulden 169  01 

11.  Northwestern  Con.  Mill.  Co 3663  17 

12.  Hagan  &  Dodd  Co 241  05 

17.  Augusta  Vinegar  Works 995  68  ! 

22.  Frank  Simpson  Fruit  Co 218  13  ' 

24.  Sleepy  Eye  Milling  Co 732  50 

24.  B.  F.  Crider 422  50  j 

28.  B.  Fischer  &  Co. . .  813  75 


Feb.  1-28. 
Returned  Sales. 

3.  Geo.  M.  Daniels  &  Co. 
11.  Wm.  R.  Harper  &  Son. 
17.  Dexter  Bros. . 


13078  03 


35  03 
55  90 
80 
171  53 


Feb.  1-28. 
Sales  Rebates  &  Allowances. 

2.  John  B.  Davis 3  50 

8.  Robert  Howe 3  75 

22  Matlock  &  Garner 15  15 

22  40 


Feb.  1-28. 
Notes  Receivable  Book. 


Date 
Rec'd 

Date  of  Note 
or  Accept. 

Time. 

Due. 

Amount 

Account  Cr. 

10 

Feb.     3 

20  ds. 

Feb.  23 

1180  50 

Dennis  &  Proctor 

11 

Feb.     4 

30  ds. 

Mar.    6 

569  35 

Martindale  &  Co. 

It 

Jan.    18 

60  ds. 

Mar.  19 

834  60 

Parker  Bros. 

12 

Feb.      7  - 

30  ds. 

Mar.    9 

502 

S.  S.  Perkins  &  Co. 

17 

Jan.      3 

60  ds. 

Mar.    4 

616  73 

N.  L.  Richmond  &  Co. 

21 

Feb.     9 

60  ds. 

Apr.  10 

363 

Dexter  Bros. 

21 

Feb.    14 

30  ds. 

Mar.  16 

1116  95 

Martindale  &  Co. 

22 

Feb.    22 

30  ds. 

Mar.  24 

165  65 

Lehigh  Coal  &  Coke  Co. 

23 

Feb.    23 

20  ds 

Mar.  15 

787 

Dennis  &  Proctor 

Notes  Receivable,  Dr. 

6135  78 

Accounts  Receivable,  Cr.  6135  78 

Feb.  1-28. 
Notes  Payable  Book. 


Date  of 
Given. 

Date  of  Note 
or  Accept. 

Time. 

Due. 

Amount. 

Account  Cr. 

11 
12 

18 

Feb.    11 
Feb.    11 

Jan.    27 

30  ds. 
30  ds. 
60  ds. 

Mar.  13 
Mar.  13 
Mar.  28 

5000 
241  05 
991 

For  loan. 
Hagan  &  Dodd  Co. 
Platt  &  Co. 

Notes  Payable,  Cr. 

6232  05 

WHOLESALE  SET. 

REGULAR  WORK. 
February. 

Feb.  1-28. 
Journal. 


15 


General  Ledger. 

Sales  Ledger. 

Dr. 

Cr. 

Dr. 

Cr. 

Feb.  5. 

Freight-In  

114  45 

15  82 
24  15 

4  31 

829  73 
4  87 

34  57 

4  31 
4  50 
2 
7  13 
40  20 

1  82 
30  24 

405 

2  05 

sd  Page  16. 

154  42 
4  31 
5  01 

834  60 
34  57 

58  14 

1  54 
6  10 

5  01 
1  54 

1  82 
30  24. 

Freight-Out 

Expense  

Petty  Cash  Drawer.  . 

10. 
Charles  Gulden  

Freight-In  

11. 
Parker  Bros  

Interest  

12. 
B.  Fischer  &  Co  .  . 

Interest  

Notes  Receivable 

12. 
B.  Fischer  &  Co  

Purchase  Discounts 

12. 
Freight-In  

Selling  Expense  

Delivery  Expense  

Expense.  .  .  . 

Warehouse  Supplies  

Petty  Cash  Drawer  
15. 
Sales  Discounts  

John  B.  Davis 

16. 
Freight-Out  

N.  Reding  &  Sons. 

17. 
N.  L.  Richmond  &  Co  
Interest  

18. 
James  S.  Reese,  Per.  %  

Wm.  T.  Harris,  Per.  % 

Purchases. 

Contlnu 

16 


WHOLESALE  SET. 

REGULAR  WORK. 

February. 

Feb.  1-28. 
Journal — Continued. 


19 

Freight-Out : 

Warehouse  Supplies 

Expense 

Selling  Expense 

Petty  Cash  Drawer 

21. 

Traveling  Expense 

Ben  Myers,  Salesman 

23. 

Freight-Out 

Johnson  Grocery  Co 

23. 

Dennis  &  Proctor 

Notes  Receivable 

23. 

Sales  Discounts 

Dennis  &  Proctor 

26. 

Freight-In 

Freight-Out 

Warehouse  Supplies 

Expense 

Furniture  &  Fixtures 

Selling  Expense 

Delivery  Expense 

Petty  Cash  Drawer 

28. 

Traveling  Expense 

Ben  Myers,  Salesman 

28. 

Expense 

James  S.  Reese,  Per.  % . . . 
Wm.  T.  Harris,  Per.  % ... 
28. 

Insurance  Expense 

Insurance 

28. 

Delivery  Expense 

Reserve  for  Dep.  on  D.  E. 


General  Ledger.         Sales  Ledger. 


Dr. 

Cr. 

Dr. 

Cr. 

37  12 

22  15 

16  80 

9  50 

85  57 

11  35 

11  35 

6  19 

6  19 

1180  50 

1180  50 

12  17 

12  17 

96  25 

16  42 

37  45 

36  10 

15 

28  75 

12  30 

242  27 

, 

9  45 

9  45 

300 

150 

150 

7  55 

7  55 

53  08 

53  08 

Continued  Page  17. 


February. 
Feb.   1-28.    Journal— Continued. 


17 


General 

Ledger. 

Sales  ] 

jedger. 

Dr. 

Cr. 

Dr. 

Cr. 

28. 
Sundry  Resource  Inventories 

159  02 

Interest 

2  61 

Purchases 

10  91 

Warehouse  Supplies  

45  50 

Expense           

35 

Delivery  Expense  

65 

28. 
Expense  

5  50 

Warehouse  Labor  

3 

Selling  Expense 

4  17 

Delivery  Expense 

2  25 

Sundry  Liability  Invent 

14  92 

28. 
Inventory 

7225  65 

Sales 

17351  28 

Purchase  Discounts 

195  83 

Inventory 

7619  37 

Purchases 

13061  02 

Freight-In 

390  88 

Warehouse  Supplies  . 

95  90 

Warehouse  Labor  .  .  . 

72 

Sales  Reb.  &  Allow  
Sales  Discounts  

22  40 
91  38 

Selling  Expense  

157  50 

Traveling  Expense  
Delivery  Expense  
Freight-Out  

20  80 
146  38 
56  14 

Expense  

665  70 

Interest  

24  45 

Insurance  Expense  
J.  S.  Reese,  Cap.  %  

7  55 
1560  86 

W.  T.  Harris,  Cap.  %.... 

780  43 

28. 
Interest  . 

2  61 

Purchases 

10  91 

Warehouse  Supplies  

45  50 

Expense  

35 

Delivery  Expense  

65 

Sundry  Resource  Invent.  .  . 

159  02 

28. 
Sundry  Liability  Invent  

14  92 

Expense  

5  50 

Warehouse  Labor.  .  .  . 

3 

Selling  Expense  

4  17 

Delivery  Expense  

2  25 

Accounts  Receivable  Dr.  Cr. 

1187  05 

50  42 

18 


WHOLESALE  SET. 

REGULAR  WORK. 
February. 


Feb.  1-28. 
Cash  Receipts. 

bash  Dr.     Salf      /ales 

|                    Disc't.     Ledger. 

Notes 
Rec.  Cr. 

1    Balance                                            4069  94  i 

1.  James  S.  Reese,  Per.  %  j  1000 
4    Notes  Receivable                          i  1423  50 

1423  50 

4    Interest  28  47  -  5  08                            23  39 

7    Martindale  &  Co                              1054  97      21  53       1076  50 

9.  Geo.  M.  Daniels  &  Co  177  04        3  61        180  65 
9.  John  B.  Davis  219  33        2  22        221  55 

9.  South  Side  Grocery  Co  '    296  37  |      2  99        299  36 
9.  United  States  Exp.  Co  86  50                        86  50 
10    Dennis  &  Proctor                              288            12              300 

11.  Notes  Payable  5000 

11.  Parker  Bros  !    25356                       25356 

12.  Dexter  Bros  29708,       604        30312 
12.  Notes  Receivable  662  07 
14.  Wm.  R.  Harper  &  Son  300            12  50        312  50 

665  95 

14.  Sales  i    120 

15.  John  B.  Davis  .                                  90  80                        90  80 

15.  Walton  &  Carter                               198  75                       198  75 

15.  Walton  &  Carter  .                             217  30        2  20        219  50 

16.  Robert  Howe                                     209  25                   :    209  25 

19.  Notes  Receivable                              100  21 

100  46 

21.  Dexter  Bros  196             4             200 

21.  N.  Reding  &  Sons  1224  07                     1224  72 

22.  Johnson  Grocery  Co  219  55        2  28        221  83 

23.  Dennis  &  Proctor  393  50                       393  50 

25.  Matlock  &  Garner  210              2  03        212  03 

26.  S.  S.  Perkins  &  Co  306  25                       306  25 

26.  S.  S.  Perkins  &  Co    .   .                     142  70         1  39         144  09 

26    Dennis  &  Proctor  236  30        2  51        238  81 

19016  43  f    75  30       6693  27 

2189  91 

WHOLESALE  SET. 

REGULAR  WORK. 

February. 

Feb.  1-28.     Cash  Payments. 


19 


Cash  Cr. 

Pch. 
Disc't 
Cr. 

Gen'l 
Ledger 
Dr. 

Expense 
Dr. 

1.  Petty  Cash  Drawer  
1.  Martin  Gillet  &  Co  

200 

469  78 

19  57 

489  35 

2.  Insurance  

43  20 

2.  Delivery  Equipment  
2.  Delivery  Expense  
3.  Expense  
3.  Northwestern  Con.  Mill.  Co...  . 
5.  Expense  

3185 
23  50 
6  65 
975  24 

27  50 

6  65 

27  50 

5.  Warehouse  Labor  

15 

5.  Selling  Expense  

20  83 

5.  Delivery  Expense  

11  25 

5.  Petty  Cash  Drawer 

154  42 

5.  Wm.  T.  Harris,  Per.  %  

40 

5.  James  S.  Reese,  Per.  %  
7.  The  Boesger  Phelps  Co  
8.  Delivery  Expense  
9.  Wm.  T.  Harris,  Per.  %  
10.  Charles  Gulden  
11.  Interest.  . 

25 
450  80 
66  50 
13  05 
164  70 
25 

9  20 

460 

11.  Northwestern  Con.  Mill.  Co...  . 
11.  Freight-In 

3663  17 
180  18 

12.  B.  Fischer  &  Co 

2430  43 

101  27 

2531  70 

12.  Interest  

3  88 

• 

12.  Expense 

33 

33 

12.  Warehouse  Labor  

18 

12.  Selling  Expense  

25 

12.  Delivery  Expense 

13  50 

12.  Petty  Cash  Drawer  

58  14 

15.  James  S.  Reese,  Per.  %  
15.  Insurance 

175 
10  80 

15.  Expense  

125 

125 

16.  Sales  Discounts  

2  09 

17.  Augusta  Vinegar  Co 

980  74 

14  94 

995  68 

19.  Expense  

25 

19.  Expense  

33 

33 

19.  Warehouse  Labor 

18 

19.  Selling  Expense  

25 

* 

19.  Delivery  Expense 

13  50 

19.  Petty  Cash  Drawer  
21.  Expense  

85  57 

65 

Continued  Page  21. 


20 


WHOLESALE  SET. 

REGULAR  WORK. 

February. 
Abstract  of  Sales. 


O.No. 

Sales. 

Freight. 

23 

Dexter  Bros  

302 

1  12 

24 

N.  Reding  &  Sons  

1254  96 

25 

Parker  Bros  

1083  15 

26 

E.  B.  Hooper  &  Co  

1249  92 

27 

John  C.  Clark  :  

86  50 

28 

Dennis  &  Proctor  

1480  50 

29 

Robert  Howe  

213 

30 

Martindale  &  Co  

569  35 

31 

Felton  &  Hoffman  Co  

142  32 

32 

Walton  &  Carter  

198  75 

32 

Walton  &  Carter  

219  50 

33 

N.  L.  Richmond  &  Co  

1120 

14  70 

34 

John  B.  Davis      .       .    .       

90  80 

35 

S.  S.  Perkins  &  Co  

502 

36 

Wm.  R.  Harper  &  Son  

531  80 

37 

Dexter  Bros 

643 

38 

C   R.  Morrison  &  Co      .   . 

414  30 

39 

Martindale  &  Co 

1116  95 

40 

Johnson  Grocery  Co 

228  02 

41 

Matlock  &  Garner 

218  18 

41  a 

Hammond  Supply  Co 

1111  04 

17  36 

42 

Carpenter  Mfg.  Co  

1096  20 

43 

S.  S.  Perkins  &  Co  

138  90 

5  19 

44 

Dennis  &  Proctor  

250  98 

45 

South  Side  Grocery  Co  

722  70 

46 

Coaler's  Supply  Co  

165  65 

47 

R.  M.  Brooks  Co  

498 

48 

Geo.  M.  Daniels  &  Co  

196  60 

49 

N.  Reding  &  Sons  

283  75 

11  28 

50 

Felton  &  Hoffman  Co                          

215  06 

51 

Hays  &  Co  ... 

26  53 

52 

Chickering  &  Co 

492 

53 

C.  R.  Morrison  &  Co 

540  40 

Sales  Cr. 

17402  81 

Freight-Out  Cr. 

49  65 

Accts.  Rec.  .                                       .  .Dr. 

17452  46 

WHOLESALE  SET. 
REGULAR  WORK. 

February. 
Feb.  1-31.     Cash  Payments — Continued. 


21 


22    Selling  Expense 

14  75 

22.  Petty  Cash  Drawer  

50 

25    Matlock  &  Garner  

9 

26.  Expense  

33 

33 

26.  Warehouse  Labor  

18 

26    Selling  Expense.  . 

25 

26.  Delivery  Expense  

13  50 

26    Petty  Cash  Drawer 

242  27 

28.  B.  Fischer  &  Co  

797  47 

16  28 

813  75 

28.  Expense 

5  85 

5  85 

28   Expense 

6  12 

6  12 

28.  James  S.  Reese,  Per.  %  
28.  Wm.  T.  Harris,  Per.  %  

1000 
75 

Balance  

16097  50 
2918  93 

161  26 

5294  36 

271  02 

19016  43 

Sales  Ledger  Balances,  February  28. 


Geo.  M.  Daniels  &  Co  

196  60 

N.  Reding  &  Sons  

295  03 

South  Side  Grocery  Co  

722  70 

Wm.  R.  Harper  &  Son  

163  40 

John  B.  Davis 

1  82 

R.  M.  Brooks  Co  

1747  92 

U.  S.  Express  Co.  .  . 

26  53 

Felton  &  Hoffman  Co  

357  38 

N.  L.  Richmond  &  Co  

519  51 

C.  R.  Morrison  &  Co 

954  70 

Chickering  &  Co  

1588  20 

Hammond  Supply  Co 

1128  40 

7700  37 
1  82 

1  82 

Accounts  Receivable                              Dr. 

7698  55 

22 


WHOLESALE  SET. 
REGULAR  WORK. 

February. 
Final  Trial  Balance,  February  28,  19     .     James  S.  Reese  &  Co. 


Cash 2918  93 

Petty  Cash  Drawer 250 

Inventory 7619  37 

Notes  Receivable 4120  68 

Accounts  Receivable 7698  55 

Furniture  &  Fixtures 328  75 

Delivery  Equipment 3185 

Insurance 84  95 

James  S.  Reese,  Personal  % 60  30 

Sundry  Resource  Inventories 159  02 

Notes  Payable 6232  05 

B.  F.  Crider 422  50 

Francis  H.  Leggett  &  Co 255  75 

Frank  Simpson  Fruit  Co 218  13 

Sleepy  Eye  Milling  Co 732  50 

Wm.  T.  Harris,  Personal  % 34  90 

Ben  Myers,  Salesman 2  05 

Sundry  Liability  Inventories 14  92 

Reserve  for  Dep.  on  Del.  Equip 53  08 

James  S.  Reese,  Capital  % 10483  11 

Wm.  T.  Harris,  Capital  % 5241  55 

Purchases 13061  02 

Freight-In 390  88 

Warehouse  Supplies 95  90 

Warehouse  Labor 72 

Purchase  Discounts 195  83 

Sales 17351  28 

Sales  Rebates  and  Allowances 22  40 

Sales  Discounts 91  38 

Selling  Expense 157  50 

Traveling  Expense 20  80 

Delivery  Expense I        146  38 

Freight-Out 56  14 

Expense 665  70 

Interest 24  45 

Insurance  Expense 7  55 

41237  65        41237  65 


WHOLESALE  SET. 
REGULAR  WORK 

February. 
Analysis  of  Expense  a/c,  February  28,  19 


23 


Admin. 
Ex. 


Gen. 
Ex. 


Off.  Supplies  &  Stat. 

1/31140  00-2/5$!  25-2/12 $2  28-2/19$16  80  =  60  33 
Less  Inventory  Feb.  28    35 


25  33 


Postage  2/5  10  00  -  2/26  15  00 j      25 

Telegrams  2/5  1  90  -  2/12  2  35 4  25 

Auto  license 3 

City  directory 

Cleaning  windows  2/12 2  50 

Coal  2/26. ! . .  18  50 

Brooms,  mops  &  soap  2/26 2  60 

Salaries  of  partners  2/28  J.  S.  R.  $150;  W.  T.  H.  $150. .     300 
Sal.  of  office  help 

2/5  $27  50  -  2/12  $33  -  2/19  $33  -  2/26  $33'-  $5  50 . .      132 

Telephone  2/3  $6  65  -  2/26  $5  85 12  50 

Rent  2/15 125 

Collection  charges  2/19  25£  -  2/21  65^ 90 

Gas  and  electric  light 6  12 

499  98~     16572 

Total  administrative  expenses 499  98 

Total  general  expenses 165  72 

Total  shown  by  Expense  % 665  70 

Items  grouped  for  profit  and  loss  statement 
Administrative  expenses 

Office  supplies  and  stationery. 25  33 

Postage,  telegrams  and  telephone 41  75 

Salaries  of  partners 300 

Salaries  of  office  help 132 

Miscellaneous 90 " 

General  expenses 

Rent 125 

Fuel  and  light 24  62 

Miscellaneous. . .  16  10 


24  WHOLESALE  SET. 

REGULAR  WORK. 
February. 

Trading  and  Profit  &  Loss  Statement,  February  28,  19 
James  S.  Reese  &  Co. 


Returns. 

Gross  sales 

Less,  -  Returned  sales 

Less,  -  Sales  rebates  and  allowances 

Less,  -  Sales  discounts 

Net  returns  from  sales 

Costs. 

Inventory,  January  31,  19     

Purchases  for  February 13078  03 

Less,  -  Goods  taken  for  use  of 

partners  at  cost 6  10 

Less,  -  Rebate  on  purchases .. . .  10  91          17  01 

Freight-In  on  purchases 

Warehouse  Supplies 

Warehouse  Labor 

Total  cost  of  purchases 

Less,  -  Purchase  discounts 

Net  cost  of  purchases 

Less,  -  Inventory,  February  28,  19     

Cost  of  merchandise  sold. . 


Gross  trading  profit  for  the  month. . 

Expenses. 
Selling  expenses 

Salesman's  salary  (Ben  Myers)  100 

Advertising 28  75 

•  Entertainment 14  75 

Miscellaneous. . .  .14 


Traveling  expense  (Ben  Myers) 

Freight-Out  on  sales 

Delivery  expenses,  - 

Gasoline  and  oils 19  30 

Driver's  wages 54 

Tires  and  tubes 18 

Depreciation  on  truck. ...  53  08 

Miscellaneous 2 

Total  selling  expenses 

Administrative  expenses 


157  50 
20  80 
56  14 


146  38 


Office  supplies  and  stationery 25  33 

Postage,  telegrams,  and  telephone. . .  41  75 

Salaries  of  partners 300 

Salaries  of  office  help 132 

Miscellaneous. . .  90 


17522  81 
171  53 


22  40 
91  38 


7619 


13061  02 
390  88 
95  90 
72 


21239  17 
195  83 


2104 


65 


380  82 


499  98 


17351  28 
113  78 


17237  50 


13817  69 
3419  81 


Continued  Page  25. 


February 


WHOLESALE  SET.  25 

REGULAR  WORK. 
Trading  and  Profit  and  Loss  Statement — Continued. 


General  expenses 

Rent 125 

Fuel  and  light 24  62 

Miscellaneous 16  10          165  72 

Interest 24  45 

Insurance  expense 7  55 

Total  expenses 1078  52 

Net  profit  for  the  month 2341  29 

Distribution  of  profit 

James  S.  Reese,  Capital  %,  f  profit 1560  86 

Wm.  T.  Harris,  Capital  %,  |  profit 780  43  

2341  29        2341  29. 

Analysis  of  Selling  Expense  a/c,  February  28,  19    . 

Salesman's  salary 

2/5  $20  83  -  2/12  $25  -  2/19  $25  -  2/26  $25  -2/28  $4  17. . .  |  100 

Sample  case I  4  50 

Mercantile  reports " 9  50 

Entertaining  customers 14  75 

Advertising 23  75 

Postage  on  advertising  matter 5 

157  50 

Items  grouped  for  profit  and  loss  statement 

Salesman's  salary I  100 

Advertising 28  75 

Entertainment 14  75 

Miscellaneous 14  00 

Analysis  of  Delivery  Expense  a/c,  February  28,  19    . 

Gasoline  2/2  $11  50  -  2/26  $11  50.     Total  $23  00  -  Less  Inventory  $10  20. .  12  80 

Oils          2/2    1200-2/26         80.    Total    12  80  -  Less  Inventory      630.  650 

Driver's  wages  2/5  $11  25-2/12$13  50-2/19$13  50-2/26$13  50-2/28$2  25.  54 

Tires2/8  $48  50  -  Less  inventory  $48  50 

Tubes  2/8 18 

Driver's  license  2/12 2 

Depreciation  on  auto  truck 53  08 

JL46  38 

Items  grouped  for  profit  and  loss  statement 

Gasoline  and  oils 19  30 

Driver's  wages 54 

Tires  and  tubes 18 

Depreciation 53  08 

Miscellaneous 2 


26 


WHOLESALE  SET. 


REGULAR  WORK. 

February. 

Statement  of  Resources  &  Liabilities,  February  28, 
James  S.  Reese  &  Co. 


19    . 


Resources. 

Cash 2918  93 

Petty  cash  drawer 250 

Merchandise,  per  inventory  February  28,  19     ...       7225  65 

Notes  receivable 4120  68    i 

Accounts  receivable 7698  55 

Total  current  resources ~  22213  81 

Furniture  &  fixtures 328  75 

Delivery  equipment 3185 

Less  depreciation  on  auto  truck _       53  08          3131  92 

Insurance,  unexpired  premiums 84  95 

James  S.  Reese,  Personal  % 60  30 

Sundry  resource  inventories 

Interest  accrued  on  notes  receivable 2  61 

Purchases,  rebate  not  credited j          10  91 

Warehouse  supplies  on  hand 45  50 

Expense,  office  supplies  and  stationery 35 

Delivery  expense,  supplies  on  hand 65  304  27 

Total  resources 25978  75 

Liabilities. 

Notes  payable |      6232  05 

Accounts  payable 

B.  F.  Crider 422  50 

Francis  H.  Leggett  &  Co 255  75 

Frank  Simpson  Fruit  Co 218  13 

Sleepy  Eye  Milling  Co 732  50  j 

Total  accounts  payable \      1628  88 

Total  current  liabilities j      7860  93    ! 

Wm.  T.  Harris,  Personal  % 34  90 

Ben  Myers,  Salesman 2  05» 

Sundry  liability  inventories 

Expense,  salaries  unpaid j  5  50 

Warehouse  labor,  wages  unpaid 3 

Selling  expense,  salary  unpaid j  4  17 

Delivery  expense,  wages  unpaid |  2  25 

Total  liabilities _7912_80 

Netresources 18065  95 

Represented  by 

James  S.  Reese,  Capital  % 10483  11  , 

Add  f  profit  for  February 1_560  86       12043  97 

Wm.  T.  Harris,  Capital  % 5241  55 

Add  \  profit  for  February 780  43        6Q21  98 

18065  95 


WHOLESALE  SET.  27 

REGULAR  WORK. 
February. 

Percentage  Analysis  of  Trading  and  Profit  and  Loss 
Statement  Feb.  28. 


1.  Per  cent  of  increase  of  gross  sales 116.33% 

2.  Per  cent  of  increase  of  net  returns  from  sales 115.46% 

3.  Per  cent  of  gross  trading  profit 24. 75% 

4.  Per  cent  of  increase  of  gross  trading  profit 140.05% 

5.  Per  cent  of  net  trading  profit 21 . 99% 

6.  Per  cent  of  sales  returned 98% 

7.  Per  cent  of  rebates  and  allowances  on  sales 13% 

8.  Per  cent  of  rebates  and  allowances  on  purchases 05% 

9.  Per   cent    of    cost    of    purchases    represented   by  warehouse 

expenses 79% 

10.  Per  cent  of  purchase  discounts  on  purchases 92% 

11.  Per  cent  of  sales  discounts  on  sales 53% 

12.  Per  cent  of  net  sales  required  to  meet  selling  expenses 2. 19% 

13.  Per  cent  of  net  sales   required  to  meet   (a)   administrative 

expenses 2.88% 

Per  cent  of  net  sales  required  to  meet  (b)  general  expenses. . .       .96% 

14.  Per  cent  of  gross  trading  profit  required  to  meet  all  expenses.  31.54% 

15.  Per  cent  of  gross  trading  profit  required  to  meet  (a)     selling 

expenses 11 . 14% 

Per  cent  gross  trading  profit  required  to  meet  (b)  admin. 

expenses 14. 62% 

Per  cent  gross  trading  profit  required  to  meet  (c)  general 

expenses 4. 85% 

16.  Per  cent  to  be  added  to  cost  price  to  meet  (a)  selling  expenses . .     2. 76% 
Per  cent  to  be  added  to  cost  price  to  meet  (b)  administrative 

expenses 3 . 62% 

Per  cent  to  be  added  to  cost  price  to  meet  (c)  general  expenses . .     1 . 20% 
18.  Per  cent  of  net  profit  on  capital  invested 15 . 61% 


NOTE  TO  THE  TEACHER  :  The  technical  forms  of  the  statements  for  Febru- 
ary and  March  are  not  shown  since  the  results  are  the  same  as  shown  by 
the  report  forms,  the  former  differing  only  in  the  matter  of  arrangement. 
The  technical  forms  for  January  are  shown  on  pages  12  and  13. 


28 


WHOLESALE  SET. 

REGULAR  WORK. 


March  1-31. 
Purchases  Book. 

4.  Sleepy  Eye  Milling  Co 192  15 

7.  Fischer  &  Co 651  25 

11.  J.  T.  Benson  &  Co 406  37 

16.  B.  Fischer  &  Co 654  20 

22.  B.  F.  Crider. . .  106 


March  1-31. 
Returned  Sales. 

.  Dennis  &  Proctor 
*24.  Parker  Bros 


Purchases,  Dr 2009  97 

March  1-31. 
F.  M.  Purchases. 

2.  Chicago  Elevator  Co 653  31 

4.  Millers  Supply  Co 207  50 

5.  Chicago  Elevator  Co 657  88 

9.  James  &  Co 2362  75 

16.  Millers  Supply  Co 55 

19.  James  &  Co 1724  87 

23.  Millers  Supply  Co 99 

F.  M.  Purchases,  Dr. . 5760  31 


38  50 
32  90 

*71  40 
March  1-31. 
Sales  Rebates  &  Allowances. 

7.  John  B.  Davis 448 

11.  Martindale  &  Co 12 

16.  Matlock  &  Garner 12  92 

29  40 
March  1-31. 

F.  M.  Sales  Rebates  &  Allowances. 

22.  Hammond  Supply  Co 17  30 

23.  Walton  &  Carter 1  32 

28.  South  Side  Gro.  Co 5  50 

29.  South  Side  Gro.  Co 4  35 

30.  N.  L.  Richmond  &  Co. ...     2  50 

30  97 


March  1-31. 
Notes  Receivable  Book. 


Date 
Rec'd 

Date  of  Note 
or  Accept. 

Time. 

Due. 

Amount. 

Account  Cr. 

1 

Jan.     26 

60  ds. 

Mar.   27 

545  50 

N.  L.  Richmond  &  Co. 

4 

Feb.    26 

30  ds. 

Mar.   28 

427  19 

C.  R.  Morrison  &  Co. 

9 

Mar.     9 

60  ds.       May     8 

252 

S.  S.  Perkins  &  Co. 

11 

Mar.   10 

60  ds.     ,  May     9 

37803 

Dexter  Bros. 

15 

Mar.   15        20  ds.       Apr".      4!    393  50 

Dennis  &  Proctor. 

*18 

Mar.   11 

2  mo.      May    ll|    724  10 

Martindale  &  Co 

18 

Jan.    28 

4  mo.      May    28     363  75 

Robert  Howe. 

*19 

Mar.   18 

60  ds.       May    17     323  02 

Chickering  &  Co. 

22 

Jan.    31 

2  mo.      Mar.   31 

200 

Felton  &  Hoffman  Co. 

*26 

Mar    25 

90  ds.       June   23!    139  21 

R.  M.  Brooks  Co. 

*30 

Mar.   29 

3  mo. 

June  29  1413  73 

Felton  &  Hoffman  Co. 

T^Notes  Receivable,  Dr. 

516003 

^Accounts  Receivable,  Cr.  5160  03 

March  1-31. 
Notes  Payable  Book. 


1 
Date           Date  ofNote 
Given.           or  Accept. 

Time. 

Due. 

Amount. 

Account  Dr. 

1                  Mar.     1 
1                  Mar.     1 
1                  Mar.     1 

2  mo. 
4  mo. 
6  mo. 

May    1 
July    1 
Sept.  1 

3000 
3000 
3000 

John  B.  Mason,  Per.  % 
John  B.  Mason,  Per.  % 
John  B.  Mason,  Per.  % 

Notes  Payable,  Cr. 

9000 

WHOLESALE  SET. 
REGULAR  WORK. 

March. 
March  1-31.     Journal. 


29 


General  Ledger.        Sales    Ledger. 


Mar.  1. 

Comanche  Flour  Mills. .  . 
John  B.  Mason,  Per. 

1. 
John  B.  Mason,  Per.  %. . 


Dr. 

Cr. 

24000 

a/i  nnn 

Dr. 


Cr. 


150GO 


Interest 

N.  L.  Richmond  &  Co. . 
1. 

N.  L.  Richmond  &  Co 

Interest 

3. 

Sleepy  Eye  Milling  Co 

Purchases 

4. 

Sales  Discounts 

C.  R.  Morrison  &  Co. . . 
5. 

Freight-Out 

F.  M.  Purchases 

Delivery  Expense 

Expense 

Warehouse  Supplies 

Petty  Cash  Drawer 

5. 

F.  M.  Op.  Expense 

Blanchard  &  Co 

9. 

S.  S.  Perkins  &  Co 

Notes  Rec 

12. 
Expense 


15000 


5  46 


8  75 


13  21 


6  78 
4  72 

13  93 
3  10 

56  18 


34  60 


41  75 


Selling  Expense |  13  60 

Delivery  Expense I  20  45 

F.  M.  Repairs  &  Renewals |  26  94 

F.  M.  Op.  Expense 21  20 

F.  M.  Expense 8  85 

Freight-In 12  15 

F.  M.  Purchases 41  40 

Freight-Out 30  10 

Petty  Cash  Drawer 

Continued  Page  30. 


2  39 


2  39 


8  75 


84  71 


34  60 


502 


502 


216  44 


5  46 


13  21 


30 


WHOLESALE  SET. 
REGULAR  WORK. 

March. 
March  1-31.     Journal— Continued. 


General  Ledger.        Sales  Ledger. 


14. 


Dr. 


Cr. 


Dr. 


Cr. 


F.  M.  Op.  Expense 38  85 

Blanchard  &  Co '....'  38  85 

15. 

Dennis  &  Proctor i  787 

Notes  Receivable 787 

15. 

Sales  Discounts 8  03 

Dennis  &  Proctor j  8  03 

15. 

Traveling  Expense 14  75 

Ben  Myers,  Salesman 14  75 

17. 

West  End  F.  &  F.  Co 23  40 

Delivery  Income 23  40 

18. 

rSales  Discounts 29  87 

^Martindale  &  Co !  29  87 

18. 

Martindale  &  Co 7  17 

*  Interest 7  17 

18. 

Robert  Howe 4  30 

Interest 4  30 

19. 

Freight-In 5  91 

Freight-Out 1  16 

Selling  Expense 14  50 

F.  M.  Op.  Expense 20  65 

F.  M.  Expense 4  62 

Petty  Cash  Drawer 46  84 

19. 

Chickering  &  Co 320 

Interest 3  20 

21. 

F.  M.  Op.  Expense 45  23 

Blanchard  &  Co 45  23 

22. 

Felton  &  Hoffman  Co 30 

Interest 30 

25. 

Profit  &  Loss 100  80 

Johnson  Grocery  Co 100  80 

Continued  Page  31. 


WHOLESALE  SET. 

REGULAR  WORK. 

March. 
March  1-31.    Journal — Continued. 


31 


General  Ledger.        Sales  Ledger. 


Dr.  Cr.  Dr.  Cr. 

25. 

B.  F.  Crider 4  83 

R.  M.  Brooks  Co 4  83 

26. 

*Sales  Discounts j        1  46 

*R.  M.  Brooks  Co 1  46 

26. 

F.  M.  Purchases. 29  76 

Freight-Out 29  73 

F.  M.  Op.  Expense ;        9  55 

Delivery  Expense 17  84 

Petty  Cash  Drawer 86  88 

30. 

*Sales  Discounts 46  67 

*Felton  &  Hoffman  Co 46  67 

31. 

Traveling  Expense !      21  15 

Ben  Myers,  Salesman I  21  15 

31. 

Expense 17  45 

Freight-Out !      20  27 

F.  M.  Op.  Expense 21  98 

F.  M.  Rep.  &  Ren 7  45 

Warehouse  Supplies 20  45 

Petty  Cash  Drawer 87  60 

31. 

F.  M.  Op.  Expense 17  40 

Blanchard  &  Co 17  40 

31. 

Insurance  Expense i        8 

Insurance 8 

31. 

Delivery  Expense j      53  08 

Reserve  for  Dep.  on  D.  E. . . .  53  08 

31. 

Inventory 638  39 

F.  M.  Purchases 638  39 

31. 

Sundry  Resource  Inv 108  74 

Warehouse  Supplies 18  50 

Expense 20 

Interest 2  24 

Delivery  Expense 18 

F.  M.  Op.  Expense |  50 

Continued  Page  32. 


32 


WHOLESALE  SET. 

REGULAR  WORK. 
March. 

March  1-31. 
Journal — Continued . 


General  Ledger.        Sales  Ledger. 


qi 

Dr. 

Cr. 

Dr. 

Cr. 

Expense 

102 

Warehouse  Labor 

12 

Selling  Expense 

16  67 

Delivery  Expense  

9 

F.  M.  Op.  Expense  

71  33 

Interest  

45 

Sundry  Lia.  Inv  

256 

31. 
•fcSales  

11472 

Purchase  Discounts  

44  49 

*F.  M.  Sales  

8305  07 

Delivery  Income  

179  90 

Inventory,  Feb.  28   19 

7225  65 

Purchases 

2001  22 

Freight-In 

18  06 

Warehouse  Supplies 

103  63 

Warehouse  Labor  

81 

Sales  Rebates  &  Allowances.. 
T^-Sales  Discounts  

29  40 
223  68 

F.  M.  Purchases  

5706  11 

F.  M.  Op.  Expenses  
Selling  Expense  

635  79 
140  60 

Traveling  Expense  

35  90 

Delivery  Expense  

213  05 

Freight-Out. 

- 

53  52 

Expense  

913  70 

•^  Interest. 

27  70 

Insurance  Expense 

8 

F.  M  Expense 

360  99 

F.  M.  Repairs  &  Renewals.  .  . 
Profit  &  Loss 

34  39 
100  80 

*  James  S.  Reese,  Cap.  %,  2/5 
profit 

835  3T 

*Wm.  T.  Harris,  Cap.  %,  1/5 
profit  

417  65 

*John  B.  Mason,  Cap.  %,  2/5 
profit  

835  31 

-jAr  Accounts  Receivable  Dr.  &  Cr.  .  . 

1329  76 
* 

210  33 
* 

March. 
Abstract  of  Sales. 


33 


0.  No. 

Sales. 

Freight. 

+"'1 

Robert  Howe 

663  31 

55 

Walton  &  Carter 

231  75 

56 

South  Side  Grocery  Co 

522  90 

+57 

John  B.  Davis 

228  20 

+58 

John  B.  Davis 

170 

59 

John  B.  Davis 

94  20 

60 

Dexter  Bros 

371  25 

6  78 

+61 

Martindale  &  Co 

758  80 

63 

Matlock  &  Garner 

318  73 

4  56 

+68 

Geo  M.  Daniels  &  Co    . 

119  50 

+69 

Geo.  M.  Daniels  &  Co  ...              ... 

82  06 

70 

Geo.  M.  Daniels  &  Co  

423  50 

71 

Johnson  Grocery  Co  

168 

72 

Robert  Howe               ...              

287  50 

+73 

Robert  Howe     .           

215  71 

+74 

Dennis  &  Proctor  .      .    .    .       

173  15 

76 

N.  Reding  &  Sons  

51  07 

+77 

Parker  Bros  .  .       

1066  10 

+78 

Felton  &  Hoffman  Co  

587  50 

*79 

Felton  &  Hoffman  Co  

872  90 

+80 

R.  M.  Brooks  Co  

145  50 

+82 

C.  R.  Morrison  &  Co  

1995  75 

+84 

N.  L.  Richmond  &  Co  

586  15 

+87 

Wm.  R.  Harper  &  Sons  

207  63 

88 

Wm.  R.  Harper  &  Sons  

152  70 

89 

Wm.  R.  Harper  &  Sons  

38 

+Sales  Cr. 

10531  86 

Freight-Out  Cr. 

11  34 

+Accts.  Rec.  .  .                                     ..Dr. 

10543  20 

F.  M.  Abstract  of  Sales. 


0.  No. 

Sales. 

Freight. 

*62 

Dennis  &  Proctor  

393  75 

+64 

Chickering  &  Co  

315 

4  82 

+65 

Walton  &  Carter 

174  90 

+66 

John  B   Davis 

67  95 

*67 

Hammond  Supply  Co  

1833  80 

12  96 

*75 

West  End  F.  &  F.  Co.  

405 

+81 

N   L   Richmond  &  Co 

652  63 

5  40 

+83 

South  Side  Grocery  Co 

685  10 

+85 

John  Winters,  Receiver                         .... 

954 

+86 

R.  M.  Brooks  Co  

355  88 

+90 

Geo.  M.  Daniels  &  Co  

1928  03 

+91 

Dexter  Bros  

570 

+F.  M.  Sales.                                             Cr. 

8336  04 

Freight-Out                                             Cr. 

23  18 

+Accts  Rec                                           Dr. 

8359  22 

34 


WHOLESALE  SET. 

REGULAR  WORK. 
March  1-31.     Gash  Receipts. 


Cash  Dr. 

Sales 
Disc't 
Dr. 

Sales 
Ledger 
Cr. 

Notes 
Rec. 
Cr. 

1    Balance         .         

2918  93 

1    James  S.  Reese   Cap.  %  

2956  03 

1.  Wm.  T.  Harris,  Cap.  %  
1.  South  Side  Gro.  Co  
2.  James  S.  Reese,  Per.  %  
2    Notes  Rec                       

1478  02 
384 
60  30 
1116  95 

16 

400 

1116  95 

2    Interest  5  58  -  2  62  

2  96 

2    Notes  Rec                           

165  04 

165  65 

2.  R.  M.  Brooks  Co  
3    Chickering  &  Co 

497  65 
499  75 

498 
500 

3.  Geo.  M.  Daniels  &  Co  
4    IT   S   Express  Co 

194  63 
26  53 

1  97 

196  60 
26  53 

4    R  M   Brooks  Co 

1249  92 

1249  92 

4    Interest 

6  25 

4.  C.  R.  Morrison  &  Co  
5.  Notes  Rec  

96 
545  50 

4 

100 

545  50 

5    Interest  5  46-2  02  

3  44 

5    Notes  Rec  

616  73 

616  73 

7    Notes  Rec  

569  35 

569  35 

7    N.  Reding  &  Sons  

292  19 

2  84 

295  03 

7    Felton  &  Hoffman  Co.  .  . 

142  32 

142  32 

7    Delivery  Income  .   . 

76  50 

8.  Wm.  R.  Harper  &  Son  
SCR  Morrison  &  Co 

158  50 
414  30 

4  90 

163  40 
414  30 

8    Chickering  &  Co 

482  16 

9  84 

492 

9    S.  S.  Perkins  &  Co  

250 

250 

*  9.  Robert  Howe  
10    Chickering  &  Co  

663  31 
596  20 

663  31 
596  20 

11.  Walton  &  Carter  

231  75 

231  75 

12.  Delivery  Income  

16  75 

12.  South  Side  Gro.  Co  
^14.  John  B.  Davis 

522  90 
540  62 

13  43 

522  90 
554  05 

15.  Dennis  &  Proctor  
17    Delivery  Income 

393  50 
39  75 

393  50 

18    Hammond  Supply  Co 

1128  40 

1128  40 

"^•18.  Dennis  &  Proctor 

385  72 

385  72 

18.  Notes  Rec 

359  45 

363  75 

19.  Matlock  &  Garner  

307  31 

3  06 

310  37 

*19.  Notes  Rec.  .  ,  

319  84 

323  02 

21.  South  Side  Gro.  Co  
22.  Felton  &  Hoffman  Co  
^r22.  Hammond  Supply  Co  

194 
15  36 
1829  46 

6 

200 
15  36 
1829  46 

Continued  Page  36. 


WHOLESALE  SET. 

REGULAR  WORK. 
March  1-31.      Gash  Payments. 


35 


Cash  Cr. 

Pch. 
Disc't 
Cr. 

Gen'l 
Ledger 
Dr. 

Expense 
Dr. 

2    Wm  T  Harris   Per  % 

34  90 

2.  Interest  
2.  Frank  Simpson  Fruit  Co  
2.  Ben  Myers,  Salesman  
2.  Expense  
3    Expense 

218  13 
25 

61 

35 
25 

3.  Sleepy  Eye  Milling  Co  
4.  B.  F.  Crider  
4.  Chicago  Elevator  Co  
5    Expense 

723  75 

418  27 
653  31 
153 

4  23 

422  50 

153 

5.  Warehouse  Labor  

18 

5.  Selling  Expense  
5    Delivery  Expense 

25 
13  50 

5.  F.  M.  Op.  Expense  
5    Petty  Cash  Drawer 

96 
84  71 

8.  Chicago  Elevator  Co  
9    B   Fischer  &  Co 

657  88 
638  22 

13  03 

651  25 

9.  James  &  Co  

2362  75 

10.  Sleepy  Eye  Milling  Co  
12.  Expense  

192  15 
153 

153 

12    Warehouse  Labor 

18 

12.  Selling  Expense  

25 

12    Delivery  Expense  .  . 

13  50 

12    F   M   Op   Expense 

101 

12    Petty  Cash  Drawer  

216  44 

14    J  T   Benson  &  Co 

406  37 

14.  Notes  Payable  
14    Notes  Payable  . 

5000 
241  05 

15.  Expense  
17    B.  Fischer  &  Co 

125 

628  03 

26  17 

654  20 

125 

18    Interest 

4  30 

19.  Expense  
19    Warehouse  Labor 

153 

18 

153 

19.  Selling  Expense  

25 

19.  Delivery  Expense  

13  50 

19.  F.  M.  Op.  Expense  
19.  Petty  Cash  Drawer  

101 

46  84 

*19.  Interest  ....  
19    James  &  Co 

1724  87 

3  18 

19.  Expense  
23.  B.  F.  Crider..         .    . 

1  25 

104  94 

1  06 

106 

1  25 

25.  Francis  H.  Leggett  &  Co  

255  75 

Continued  Page  37. 


36 


WHOLESALE  SET. 


REGULAR  WORK. 
March  1-31.     Cash  Receipts— Continued. 


*23.  Walton  &  Carter  ...      . 

173  58 

173  58 

-^•24.  Robert  Howe.  . 

138  01 

5  75 

143  76 

if  24:.  N.  L.  Richmond  &  Co  

557  09 

557  09 

*25.  Geo.  M.  Daniels  &  Co 

615  39 

9  67 

625  06 

25.  Johnson  Grocery  Co 

67  20 

67  20 

•^-26.  Notes  Rec  . 

137  15 

139  °1 

^-26    Interest 

2  09 

26.  Delivery  Income 

23  50 

28    South  Side  Gro.  Co 

120  25 

2  45 

122  70 

28    Notes  Rec 

427  19 

427  19 

28    Interest 

2  14 

28    N   Reding  &  Sons 

50  56 

51 

51  07 

•^28.  Dennis  &  Proctor  

131  96 

2  69 

134  65 

28    Sales 

261  54 

29.  Notes  Rec  

362  27 

363 

*29.  West  End  F.  &  F.  Co  

428  40 

428  40 

*29.  South  Side  Gro.  Co  
^30.  Interest  

67525 
21  21 

675  25 

^30.  Notes  Rec  

1392  29 

1413  73 

*30.  N.  L.  Richmond  &  Co  
30   Purchases  

655  53 
10  91 

655  53 

30    Sales 

750 

31    Notes  Rec  . 

199  75 

200 

•^-31    Parker  Bros 

991  87 

41  33 

1033  20 

31    B  F  Crider 

4  83 

^-31.  John  Winters,  Receiver  

953  20 

954 

31901  43 
* 

124  44 
* 

17180  61 

* 

6244  08 
* 

Analysis  of  Selling  Expense  a/c,  March  31,  19 


Salesman's  salary  3/5  $25  -  3/12  $25  -  3/19  $25  - 

3/26  $25  -  3/31  $16.67    Total  $116  67 
Less  Inventory  Feb.  28  4  17 

Entertaining  3/12 

Sample  goods  3/12 

Advertising  3/19 

Postage  on  advertising  matter  3/19 


Salesman's  salary 112  50 

Advertising 14  50 

Entertaining 11  50 

Miscellaneous...  2  10 


112  50 
11  50 

2  10 
12 

2  50 


140  60 


WHOLESALE  SET. 

REGULAR  WORK. 
March  1-31.     Cash  Payments— Continued. 


37 


*26.  Interest 2  06 

26.  Expense j  153  153 

26.  Warehouse  Labor .- 18 

26.  Selling  Expense 25 

26.  Delivery  Expense 13  50 

26.  F.  M.  Op.  Expense 107 

26.  Petty  Cash  Drawer 86  88 

28.  Notes  Payable 991 

28.  F.  M.  Purchases 508  31 

29.  Interest 73 

*30.  Interest 21  44 

31.  Expense 25 

31.  Expense 80 

31.  Ben  Myers,  Salesman :       12  95  | 

31.  Petty  Cash  Drawer 87  60 

31.  Millers  Supply  Co 361  50 

31.  Blanchard  &  Co 136  08  j 

31.  F.  M.  Expense 347  52  j 

18534  45      44  49       1866  27      739  90 

* 
Balance ..*J13366  98 

*  31901  43 

Analysis  of  Delivery  Expense  a/c,  March  31,  19    . 

Tire  2/28  $48  50 48  50 

Gasoline  2/28  $10  20  -  3/5  $9  78  -  3/26  $7  84 27  82 

Oils  2/28  $6  30-3/5  $4  15-3/26  %2  50 *..|  12  95 

Driver's  wages  3/5  $13  50-3/12  $13  50-3/19  $13  50- 

3/26  $13  50  -  3/31  $9    Total  63 

Less  Inventory  Feb.  28                2  251  60  75 
Tubes  3/12  $18  00  -  Less  inventory  Mar.  31 .  $18 

Bridge  tolls  3/12 |  2  45 

Tire  chains  3/26 i  7  50 

Depreciation  on  auto  truck i  53  08 

!    213  05 

Gasoline  and  oil $40  77 

Driver's  wages 60  75 

Tires  and  tubes 48  50 

Depreciation 53  08 

Miscellaneous. . .  9  95 


38 


WHOLESALE  SET. 

REGULAR  WORK. 

March. 
Analysis  of  Expense  a/c,  March  31,  19 


Items. 


Admin. 
Ex. 


Gen. 
Ex. 


Off.  supplies  &  stat.  2/28  $35-3/12  $14  25;  total  $49  25, 

less  inv.  Mar.  31  $20 29  25 

Cleaning  offices  &  windows  3/5 |        2  50 

Telegrams  3/5 60 

Postage  3/12 15 

Coal  3/12 12  50 

Gas  &  electric  light  3/31 5  25 

Telephone  3/31 12  20 

Collection    charges   3/2   35*<  -  3/3   25jf  -  3/  19  $1.25- 

3/31  25£  -  3/31  80^ 2  90 

Salaries  of  partners  3/5  $120-3/12  $120-3/19  $120- 

3/26  $120  -  3/31  $80 I    560 

Salaries  of  office  force  3/5  $33-3/12  $33-3/19  $33- 

3/26  $33  -  3/31  $22  =  $154  148  50 

Less  inventory  Feb.  28            5  50        148  50 
Rent  3/15 7. "  125 

768  45       145  25 

Administration  expenses 768  45 

General  expenses s  145  25 

Total  to  Expense  % m 913  70 

Office  supplies  and  stationery..  .$29  25 
Postage,  telegrams  &  telephone.  27  80 

Salaries  of  partners 560 

Salaries  of  office  help 148  50 

Miscellaneous 2  90 

Fuel  &  light 125 

Rent 17  75 

Miscellaneous..  2  50 


WHOLESALE  SET. 

REGULAR  WORK. 

March. 
Final  Trial  Balance,  March  31,  19    .     James  S.  Reese  &  Go. 


39 


*Cash 13366  98 

Petty  Cash  Drawer '  250 

Inventory j  7864  04 

*Notes  Receivable 1747  63 

^•Accounts  Receivable 5247  9£ 

Comanche  Flour  Mills,  Investment 24000 

Furniture  &  Fixtures 328  75 

Delivery  Equipment 3185 

Insurance 76  9£ 

Sundry  Resource  Inventories 108  74 

Notes  Payable 9000 

Sundry  Liability  Inventories 256 

Reserve  for  Dep.  on  Del.  Equip 106  16 

James  S.  Reese,  Capital  % 15000 

Wm.  T.  Harris,  Capital  % 7500 

John  B.  Mason,  Capital  % r 15000 

Purchases 2001  22 

Freight-In 18  06 

Warehouse  Supplies 103  63 

Warehouse  Labor 81 

Purchase  Discounts 44  49 

*Sales 11472 

Sales  Rebates  &  Allowances 29  40 

*Sales  Discounts 223  68 

F.  M.  Purchases 5706  11 

F.  M.  Op.  Expense 635  79 

F.  M.  Repairs  &  Renewals 34  39 

*F.  M.  Sales 8305  07 

Selling  Expense 140  60 

Traveling  Expense 35  90 

Delivery  Expense 213  05 

Freight-Out 53  52 

Expense 913  70 

^Interest 27  70 

Insurance  Expense 8 

F.  M.  Expense i  360  99 

Delivery  Income !  179  90 

Profit  &  Loss 100  80 

66863  62  66863  62 


Sales  Ledger  Balances,  March  31. 


*Geo.  M.  Daniels  &  Co 
•^  Dexter  Bros 
*Wm.  R.  Harper  &  Son 
*R.  M.  Brooks  Co 
-jfc-C.  R.  Morrison  &  Co 


^Accounts    Receivable...  ..Dr. 


1928  03 
570 
398  33 
355  88 

1995  75 


*5247  99 


40  WHOLESALE  SET. 

REGULAR  WORK. 

March. 

Trading  and  Profit  &  Loss  Statement,  March  31,  19 
James  S.  Reese  &  Co. 


Returns. 
Store. 
*Gross  sales  ..........................  11543  40 

-  Returned  sales  ...............      71  40 

Less,  -  Sales  rebates  and  allowances..      29  40 
,  -  Sales  discounts  ...............     223  68 

returns  from  sales  .....................  ..  . 

Cost. 
Inventory,  February  28,  19     .........  7225  65 

Purchases  for  March  ..........  2009  97 

Less,  -  Rebate  on  purchase  .  .        8  75  2001  22 
Freight-In  on  purchases  .............       18  06 

Warehouse  supplies  ..................     103  63 

Warehouse  labor  .....................      81 

Total  cost  of  purchases  ..........  9429  56 

Less,  -  Purchase  discounts  ...........      44  49 

Cost  of  merchandise  sold  .................... 


trading  profit  for  mo.  (Store)  ...... 

Returns. 
Flour  Mill. 
.  M.  Sales  (net)  ............................ 

Costs. 
F.  M.  Purchases,  less  Inventory  ......  5706  11 

F.  M.  Operating  expense  ......  >  ......     635  79 

F.  M.  Repairs  &  Renewals  ...........      34  39 

Cost  of  manufactured  product  ............... 

-^Gross  trading  profit  for  the  month  ....... 

-^Total  gross  trading  profit  for  the  month.. 

Incomes. 
Delivery  Income  ..................... 

^Gross  Income  ............................ 

Expenses. 
Selling  expenses, 

Salesman's  salary  (Ben 

Myers)  ...............  112  50 

Advertising  ...............     14  50 

Entertaining  ..............     11  50 

Miscellaneous  .............      2  10 

Traveling  expenses 

(Ben  Myers)  .................      35  90 

Freight-Out  on  Sales  .............      53  52 

Delivery  expenses 

Gasoline  and  oil  ......     40  77 

Driver's  wages  ........     60  75 

Tires  and  tubes  .......     48  50 

Depreciation  .........     53  08 

Miscellaneous  .........      9  95 

Total  selling  expenses 


140  60 


213  05 


11472 


253  08 


11218  92 


9385  07 


8305  07 


6376  29 


1833  85 


443  07 


1928  78 
~3762  63 

179  90 
3942  53 


Continued  Page  41. 


Trading  and  Profit  and  Loss  Statement — Continued. 


41 


Administrative  expenses 

Office  supplies  and  stationery. ...      29  25 
Postage,  telegrams  &  telephone. .       27  80 

Salaries  of  partners 560 

Salaries  of  office  help 148  50 

Miscellaneous 2  90 

General  expenses 

Rent 125 

Fuel  &  light 17  75 

Miscellaneous 2  50 

^-Interest 

Insurance  expense 

F.  M.  Expense 

Profit  &  Loss  (Bad  debt) 

-^f Total  expenses 

profit  for  the  month 

Distribution  of  profit 

*  James  S.  Reese,  Capital  %,  2/5  profit 

*Wm.  T.  Harris,  Capital  %.  1/5  profit 

*John  B.  Mason,  Capital  %,  2/5  profit 


768  45 


145  25 

27  70 
8 

360  99 
100  80 


835  31 
417  65 
835  31 


1854  26 


2088  27 


*2088  27 


Percentage  Analysis  of  Statements,  March  31,  19    . 


Combined  j    Store 
Analysis    j        % 


F.  M. 


1.  Per  cent  of  increase  of  gross  sales 13 .45%     34. 12% — 

2.  Per  cent  of  increase  of  net  returns  from  sales 13.26%     34.92% — 

3.  Per  cent  of  gross  trading  profit 23.87%     19.54%     30.25% 

4.  Per  cent  of  increase  of  gross  trading  profit 10.02%     46.38%- 

5.  Per  cent  of  net  trading  profit 21 . 06% 

6.  Per  cent  of  sales  returned .36%         .62% 

7.  Per  cent  of  rebates  and  allowances  on  sales .30%         .25%    !     .37% 

'8.  Per  cent  of  increase  of  gross  purchases .09% 

9.  (a)  Per  cent  of  cost  of  purchases  represented     by     ware- 
house expenses 1 .96% 

(b)  Per  cent  of  cost  of  manufactured  product  represented   . 

by  operating  expenses 9 .97% 

10.  Per  cent  of  purchase  discounts  on  purchases .47% 

11.  Per  cent  of  sales  discounts  on  sales 1 .95% 

12.  Per  cent  of  net  sales  required  to  meet  selling  expenses... .         2.24% 

13.  (a)  admin,  expenses 3 .89% 

(b)  general  expenses .74% 

14.  Per  cent  of  gross  trading  profit  required  to  meet    all    ex- 

penses   49 . 28% 

(a)  selling  expenses 11 .78% 

(b)  admin,  expenses !  20.42% 

(c)  general  expenses ; 3 .86% 

16.  Per  cent  to  be  added  to  cost  price  to  meet  (a)  selling  ex- 
penses.          2.81% 

(b)  admin,  expenses 4.88% 

(c)  general  expenses .92% 

15.  Per  cent  of  net  profit  on  capital  invested i        5.57% 


42  WHOLESALE  SET. 

REGULAR  WORK. 

March. 

Statement  of  Resources  &  Liabilities,  March  31,  19 
James  S.  Reese  &  Co. 


Resources. 
£-Cash 

*  13366  98 

Petty  cash  drawer  

250 

F.  M    Inventory 

638  39 

£-Notes  receivable  
if  Accounts  receivable  

£  1747  63 
*  5247  99 

£-Total  current  resources 

•£21250  99 

Comanche  flour  mill  investment 

24000 

Furniture  &  fixtures 

328  75 

Delivery  equipment  

3185 

Less,  -  Reserve  for  depreciation  

106  16 

3078  84 

Insurance   unexpired  premiums 

76  95 

Sundry  resource  inventories, 
Warehouse  supplies  on  hand  
Expense,  books  and  stationery  
Interest  accrued  on  notes  receivable  .  .  . 

18  50 
20 
2  24 

Delivery  expense,  supplies  on  hand  
F.  M.  Op.  expense,  supplies  on  hand  

18 
50 

185  69 

£-Total  resources 

£-48844  27 

Liabilities. 
Notes  payable  

9000 

Sundry  liability  inventories 
Expense,  salaries  unpaid  .    .    . 

102 

Warehouse  labor   wages  unpaid  .  . 

12 

Selling  expense   salary  unpaid 

16  67 

Delivery  expense,  wages  unpaid  

9 

F.  M.  Op.  expense,  wages  unpaid  

71  33 

Interest  accrued  on  notes  payable  

45 

Total  liabilities 

9256 

£-Net  resources.  .  . 

£-39588  27 

Represented  by 
James  S.  Reese,  Capital  %  15000 

£-Add  2/5  net  profit  for  March. .  .£-  835  31  £-15835  31 
Wm.  T.  Harris,  Capital  % "7500 

£Add  1/5  net  profit  for  March. .  .£-  417  65  £-  7917  65 
John  B.  Mason,  Capital  % 15000 

£-Add  2/5  net  profit  for  March. .  .£-    835  31   £-15835  31 


£-39588  27 


WHOLESALE  SET. 

REGULAR  WORK. 

April. 
April  1.     Gash  Receipts. 


43 


1.      Balance 

rl.  Geo.  M.  Daniels  &  Co 

'1.  Dexter  Bros 

-1.  Wm.  R.  Harper  &  Son. . .  . 

-1.  R.  M.  Brooks  Co 

rl.  C.  R.  Morrison  &  Co 

1.  Notes  Receivable 

1.  Interest  2  52-1  57 

1.  Notes  Receivable 

1.  Interests  78-2  42.! 

1.  Notes  Receivable 

-1.  Notes  Receivable 

1.  Comanche  Flour  Mill  Inv. 


Inventory 

F.  M.  Op.  Expense 

Furniture  &  Fixtures 

Delivery  Equipment 

Insurance 

Warehouse  Supplies 

Expense 

Delivery  Expense 

Petty  Cash  Drawer.  .  . 


Sales 

Sales 

Notes 

Cash  Dr. 

Disc't 

Ledger 

Rec. 

Dr. 

Cr. 

Cr. 

13366  98 

1928  03 

1928  03 

570 

570 

396  04 

2  29    398  33 

355  88 

355  88 

1955  83 

39  92   1995  75 

252 

252 

95 

378  03 

378  03 

1  36 

393  30 

393  50 

719  27 

724  10 

24000 

638  39 

50 

328  75 

3078  84 

76  95 

18  50 

20 

18 

250 

48797  10 

42  21 

5247  99 

1747  63 

* 

*      * 

* 

April  1.     Gash  Payments. 


Cash  Cr. 

Pch. 
Disc't 
Cr. 

Gen'l 
Ledger 
Dr. 

Expense 
Dr. 

1.  Interest 

20 

^1.  Interest  

4  85 

1.  Notes  Payable 

9000 

1.  Interest 

45 

.  Expense  

102 

102 

.  Warehouse  Labor  

12 

.  Selling  Expense  

16  67 

.  Delivery  Expense  
.  F.  M.  Op.  Expense  

9 
71  33 

if  I.  James  S.  Reese,  Cap.  %  
*1.  Wm.  T.  Harris,  Cap.  %  
*1.  John  B.  Mason,  Cap.  %  

15816  44 
7908  22 
15816  44 

* 

48797  10 

*503 

102 

44 


WHOLESALE  SET. 

REGULAR  WORK. 
April  1. 


Journal. 


General  Ledger. 


Dr.  Cr. 

Apr    1. 

Warehouse  Supplies 18  50 

Expense i      20 

Interest 2  24 

Delivery  Expense 18 

F.  M.  Op.  Expense 50 

Sundry  Resource  Inv 108  74 

1. 

Sundry  Lia.  Inv !    256 

Expense 102 

Warehouse  Labor 12 

Selling  Expense 16  67 

Delivery  Expense 9 

F.  M.  Op.  Expense 71  33 

Interest 45 

t 

Reserve  for  Dep.  on  D.  E 106  16 

Delivery  Equipment 106  16 

1. 

*  James  S.  Reese,  Cap.  % 18  87 

*Wm.  T.  Harris,  Cap.  % 9  43 

*John  B.  Mason,  Cap.  % 18  87 

*Sales  Discounts j  42  21 

*  Interest. ...  4  96 


WHOLESALE  SET. 

VARIED  PRICE  LISTS. 
Returned  Sales  Book. 


45 


1.      2. 

3. 

4.      5. 

Dennis  &  Proctor  
Parker  Bros 

38  25   38  75 
32  20    33  25 

38  80 
33  60 

39  25    37  50 
32  55    34  30 

70  45    72  00 

72  40 

71  80    71  80 

6.   I   7. 

8. 

9.      10. 

Dennis  &  Proctor  
Parker  Bros  

37  25   37  75 
31  50   33  95 

38  25 
31  50 

38  75   37  75 
32  90    30  80 

68  75    71  70 

69  75 

71  65    68  55 

VARIED 

PRICE  LISTS. 

Notes  Receivable  Book. 

No.     Mar.  18 

Mar.  19 

Mar.  26 

Mar.  30 

Totals. 

1 

714  11 

329  08 

137  98 

1407  71 

5148  85 

2 

710  91 

327  56 

140  45 

1378  10 

5116  99 

3 

728  65 

332  11 

139  84 

1453  48 

5214  03 

4 

716  24 

329  68 

137  36 

1403  99 

5147  24 

5 

742  13 

325  44 

138  72 

1400  12 

5166  38 

6 

715  57 

324  23 

138  22 

1359  42 

5097  41 

7 

731  46 

327  26 

137  73 

1400  92 

5157  34 

8 

718  67 

324  53 

140  45 

1420  12 

5163  74 

9 

730  79 

326  05 

141  08 

1439  09 

5196  98 

10 

715  95 

323  02 

137  98 

1456  84 

5193  76 

VARIED  PRICE  LISTS. 
Cash  Payments. 


No. 

Mar.  19. 

Mar.  26. 

Mar.  30. 

Gen.  Led. 
Total 

Cash  Bal. 

1 

3  24 

2  05 

21  35 

1892  91    13399  90 

2 

3  22 

2  08 

20  90 

1892  47 

13311  85 

3 

3  27 

2  07 

22  04 

1893  65  j  13536  23 

4 

3  24 

2  04       21  29 

1892  84 

13448  48 

5 

3  20 

2  06 

21  24 

1892  77    13357  03 

6 

3  19 

2  05       20  62 

1892  13    13335  23 

7 

3  22 

2  04 

21  25 

1892  78  i  13348  64 

8 

3  19 

2  08       21  54 

1893  08 

13434  51 

9 

3  21 

2  09       21  83 

1893  40 

13438  39 

10 

3  18 

2  05 

22  20 

1893  70 

13435  31 

46     Abstract  of  Sales  for  Varied  Price  Lists  for  March— Store  % 


0.  No. 

Account. 

1. 

2. 

3. 

4. 

5. 

54 

Robert  Howe  669  58       673  31 

633  31  l     665  81       664  56 

55 

Walton  &  Carter  231  75       231  75 

231  75 

231  75  !     231  75 

56 

South  Side  Gro.  Co  522  90 

522  90 

522  90 

522  90 

522  90 

57 

John  B.  Davis  

229  60 

225  40 

229  95 

223  65 

234  85 

58 

John  B.  Davis  

164  25 

156  88 

176  13 

182  53 

161  50 

59 

John  B.  Davis  

94  20 

94  20 

94  20 

94  20 

94  20 

60 

Dexter  Bros.  .               .... 

371  25 

371  25 

371  25 

371  25 

371  25 

61 

Martindale  Co 

748  50 

745  20 

763  50 

750  70 

777  40 

63 

Matlock&  Garner 

318  73 

318  73 

318  73 

318  73 

318  73 

68 

Geo.  M.  Daniels  &  Co  ....      120  50 

118  50 

117  50 

118  10 

118  90 

69 

Geo.  M.  Daniels  &  Co  ....       80  69"  !      80  63 

77 

78  13 

73  06 

70 

Geo.  M.  Daniels  &  Co  .  .  .  .'    423  50      423  50 

423  50 

423  50 

423  50 

71        Johnson  Gro.  Co  168 

168 

168 

168 

168 

72        Robert  Howe  281  25 

265  63 

304  38 

316  88 

275 

73        Robert  Howe  

215  71 

215  71 

215  71 

215  71 

215  71 

74 

Dennis  &  Proctor  172  25       173  45 

173  25 

174  65 

171  25 

76 

N.  Reding  &  Sons  51  07 

51  07 

.  51  07 

51  07 

51  07 

77 

Parker  Bros.                   .  .     !  1045  55 

1017  85 

1059 

1060  45 

1072  25 

78 

Felton  &  Hoffman  Co  

587  50 

573  13 

626  88 

588  13 

556  25 

79 

Felton  &  Hoffman  Co              866  63 

850  45 

874  10 

862  10 

890  63 

80 

R.  M.  Brooks  Co  144  25 

146  75 

146  13 

143  63 

145 

82 

C.  R.  Morrison  &  Co  1987  75 

1948  25 

2045  25 

2006  25 

1921  75 

84 

N.  L.  Richmond  &  Co.  .  .  . 

600  05 

611  10 

611  81 

605  04 

612  42 

87 

Wm.  R.  Harper  &  Sons  .  .  . 

206  19 

207  19 

200  50 

206  25 

189  13 

88 

Wm.  R.  Harper  &  Sons  .  .  . 

152  70 

152  70 

152  70 

152  70 

152  70 

89 

Wm.  R.  Harper  &  Sons  .  .  . 

38 

38 

38 

38 

38 

Sales                                Cr 

10492  33 

10381  53 

10656  50 

10570  21 

10451  76 

Freight  Out  Cr. 

11  34 

11  34 

11  34 

11  34 

11  34 

Accts.  Rec  Dr. 

10.503  67 

10392  87 

10667  84 

10581  55 

10463  10 

Abstract  of  Sales  for  Varied  Price  Lists  for  March— F.  M.  Sales  % 


0.  No. 

Account. 

1. 

2. 

3. 

4. 

5. 

62 

64 

Dennis  &  Proctor  
Chickering  &  Co.  .  . 

401  25 
321 

399  38 
319  50 

405 
324 

402 
321  60 

396  75 
317  40 

65 

Walton  &  Carter 

176  55 

175  73 

178  20 

176  88 

174  57 

66 

John  B.  Davis 

67  20 

67  50 

66  90 

65  55 

67  35 

67 
75 

81 
83 
85 
86 

Hammond  Supply  Co  
West  End  F.  &  F.  Co  
N.  L.  Richmond  &  Co  .... 
South  Side  Gro.  Co  
John  Winters,  Receiver..  . 
R.  M.  Brooks  Co 

1851  10 
403  20 
658  20 
691  15 
963  00 
364 

1842  45 
405 
656  25 
688  13 
958  50 
365  63 

1868  40 
401  40 
662  65 
697  30 
972 
362  38 

1854  56 
393  30 
656  18 
691  85 
964  80 
355  06 

1830  34 
404  10 
652  48 
683  70 
952  20 
364  81 

90 
91 

Geo.  M.  Daniels  &  Co  .... 
Dexter  Bros  . 

1974  15 

577  21 

1964  93 
575  93 

1992  60 
580  47 

1977  84 
574  21 

1952  01 
572  82 

F.  M.  Sales.  .  .       Cr. 

8448  01 

8418  93 

8511  30 

8433  83 

8368  53 

Freight  Out     .    Cr. 

23  18 

23  18 

23  18 

23  18 

23  18 

Accts.  Rec  ..      .  .Dr. 

8471  19 

8442  11 

8534  48 

8457  01 

8391  71 

Abstract  of  Sales  for  Varied  Price  Lists  for  March— Store  %      47 


0.  No. 

Account 

6. 

7. 

8. 

9. 

10. 

54 

Robert  Howe 

667  06 

669  56 

662  06 

665  81 

667  06 

55 

Walton  &  Carter  

231  75 

231  75 

231  75 

231  75 

231  75 

56 
57 

South  Side  Gro.  Co  
John  B.  Davis  

522  90 
224  70 

522  90 
230  30 

522  90 
225  75 

522  90 
232  40 

522  90 
226  10 

58 
59 

John  B.  Davis  
John  B.  Davis 

171  38 
94  20 

166  63 
94  20 

175 
94  20 

168  25 
94  20 

174  25 
94  20 

60 

Dexter  Bros  

371  25 

371  25 

371  25 

371  25 

371  ?5 

61 
63 
68 
69 
70 
71 

Martindale  &  Co  
Matlock  &  Garner  
Geo.  M.  Daniels  &  Co.  .  .  . 
Geo.  M.  Daniels  &  Co.  ... 
Geo.  M.  Daniels  &  Co  .... 
Johnson  Gro.  Co 

750 
318  73 
120  90 
83  69 
423  50 
168 

766  40 
318  73 
120 
84  19 
423  50 
168 

753  20 
318  73 
120  90 
82  69 
423  50 
168 

765  70 
318  73 
119 
82  76 
423  50 
168 

750  40 
318  73 
120 
80  69 
423  50 
168 

72 
73 
74 

76 

77 
78 
79 
80 

Robert  Howe  
Robert  Howe  
Dennis  &  Proctor  
N.  Reding  &  Sons  
Parker  Bros  
Felton  &  Hoffman  Co  
Felton  &  Hoffman  Co  
R.  M.  Brooks  Co 

295  63 
215  71 
170  37 
51  07 
1083  80 
534  38 
870  55 
144  50 

284  38 
215  71 
171  73 
51  07 
1057  85 
571  88 
875  50 
144 

302  50 
215  71 
172  57 
51  07 
1091  25 
591  25 
875  73 
146  75 

288  75 
215  71 
173  85 
51  07 
1077  15 
601  25 
885  28 
147  38 

300 
215  71 
171  25 
51  07 
1099  50 
626  25 
878  25 
144  25 

82 
84 
87 
88 
89 

C.  R.  Morrison  &  Co  
N.  L.  Richmond  &  Co  .... 
Wm.  R.  Harper  &  Sons  .  .  . 
Wm.  R.  Harper  &  Sons  .  .  . 
Wm.  R.  Harper  &  Sons  .  .  . 

1928  75 
600  39 
216  63 
152  70 

38 

1969  75 
599  85 
221  44 
152  70 

38 

2000  75 
614  39 
219  50 
152  70 

38 

2001  25 
616  03 
215  69 
152  70 
38 

2041  50 
608 
207  13 
152  70 

38 

Sales.  .                .            Cr 

10450  54 

10521  27 

10692  10 

10628  36 

10689  44 

Freight  Out.  ...              Cr 

11  34 

11  34 

11  34 

11  34 

11  34 

Accts.  Rec..  .                  Dr 

10461  88 

10532  61 

10633  44 

10639  70 

10693  78 

Abstract  of  Sales  for  Varied  Price  Lists  for  March— F.  M.  Sales  % 


6. 

7. 

8. 

9. 

10. 

62 

Dennis  &  Proctor 

395  25 

399 

395  63 

QQ7    5f) 

qnq   n& 

64 
65 
66 
67 
75 
81 
83 

Chickering  &  Co  
Walton  &  Carter  
John  B.  Davis  
Hammond  Supply  Co  
West  End  F.  &  F.  Co  
N.  L.  Richmond  &  Co-.  .  .  . 
South  Side  Gro.  Co  

316  20 
173  91 
67  50 
1823  42 
405 
650  75 
681  25 

319  20 
175  56 
65  70 
1840  72 
394  20 
652  45 
665 

316  50 
174  08 
67  95 
1825  15 
407  70 
652  08 
682  03 

318 
174  90 
66  38 
1833  80 
398  25 
651  69 
684  63 

315 
173  25 

66  75 
1816  50 
400  50 
647  38 
678  50 

85 
86 

John  Winters,  Receiver  .  .  . 
R.  M.  Brooks  Co 

948  60 
365  63 

957  60 
355  88 

949  50 
368  06 

954 
359  53 

945 
361    5fi 

90 
91 

Geo.  M.  Daniels  &  Co  
Dexter  Bros  

1944  63 

571  58 

1963  08 
571  39 

1946  48 
573  02 

1955  70 
571  36 

1937  25 

568  28 

F.  M.  Sales  Cr. 
Freight  Out  ....           Cr 

8343  72 
23  18 

8359  78 
23  18 

8358  18 
23  18 

8365  74 
23  18 

8303  72 
23  18 

Accts.  Rec  Dr. 

8366  90 

8382  96 

8381  36 

8388  92 

8326  90 

48 


WHOLESALE  SET. 

VARIED  PRICE  LISTS. 

Cash  Receipts.     1. 


Date. 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe 

669  56 

669  56 

14 

John  B.  Davis  

535  58 

13  37 

548  95 

18 
19 

Dennis  &  Proctor  
Notes  Rec  

393  22 

325  84 

393  22 

329  08 

22 
23 

Hammond  Supply  Co  
Walton  &  Carter  

1846  76 
175  23 

1846  76 
175  23 

24 

Robert  Howe  

131  88 

5  63 

137  51 

24 
25 
26 

N.  L.  Richmond  &  Co  
Geo.  M.  Daniels  &  Co  .... 
Notes  Rec    .   . 

570  99 
615  01 
135  93 

9  68 

570*99 
624  69 

137  98 

26 

Interest 

2  07 

28 

Dennis  &  Proctor 

131  32 

2  68 

134  00 

29 
29 

West  End  F.  &  F.  Co  
South  Side  Gro.  Co  

426  60 
681  30 

426  60 
681  30 

30 

Interest  

21  12 

30 

Notes  Rec  

1386  36 

1407  71 

30 
31 

N.  L.  Richmond  &  Co  
Parker  Bros  

661  10 
972  82 

40  53 

661  10 
1013  35 

31 

John  Winters,  Receiver  .  .  . 

962  20 

963  00 

Bal.  13399  90 

31934  35 

123  46 

17213  81 

6242  89 

Gash  Receipts.    2. 


Date. 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe  

673  31 

673  31 

14 

John  B.  Davis 

524  62 

13  06 

537  68 

18 

Dennis  &  Proctor 

391  35 

391  35 

19 

Notes  Rec 

324  34 

327  56 

22 
23 

Hammond  Supply  Co  
Walton  &  Carter  ... 

1838  11 
174  41 

1838  11 
174  41 

24 

Robert  Howe  

116  58 

5  31 

121  89 

24 
25 

26 

N.  L.  Richmond  &  Co  .... 
Geo.  M.  Daniels  &  Co  
Notes  Rec 

582  04 
612  97 
138  37 

9  66 

582  04 
622  63 

140  45 

26 

Interest 

2  11 

28 

Dennis  &  Proctor  

13201 

2  69 

134  70 

29 

West  End  F.  &  F.  Co  

428  40 

428  40 

29 

South  Side  Gro.  Co  

678  28 

678  28 

30 

Interest  

20  67 

30 

Notes  Rec  

1357  20 

1378  10 

30 
31 

N.  L.  Richmond  &  Co  .... 
Parker  Bros 

659  15 
945  22 

39  38 

659  15 
984  60 

31 

John  Winters,  Receiver  .  .  . 

957  70 

958  50 

Bal.  13311  85 

31846  30 

121  67 

17152  60 

6214  23 

WHOLESALE  SET. 

VARIED  PRICE  LISTS. 

Gash  Receipts.     3. 


49 


Date. 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

14 

Robert  Howe  
John  B.  Davis..       

663  31 
547  26 

13  62 

663  31 

560  88 

18 
19 

Dennis  &  Proctor.  . 
Notes  Rec  

396  97 

328  84 

396  97 

332  11 

22 

Hammond  Supply  Co 

1864  06 

1864  06 

23 

Walton  &  Carter 

176  88 

176  88 

24 

Robert  Howe  

154  55 

6  09 

160  64 

24 
25 
26 

N.  L.  Richmond  &  Co  .... 
Geo.  M.  Daniels  &  Co  
Notes  Rec 

582  75 
608  35 
137  77 

9  65 

582  75 
618  00 

139  84 

26 

Interest  

2  10 

28 

Dennis  &  Proctor  . 

131  76 

2  69 

134  45 

29 
29 

West  End  F.  &  F.  Co  
South  Side  Gro.  Co.  . 

424  80 
687  45 

424  80 
687  45 

30 

Interest 

21  80 

30 

Notes  Rec  

1431  44 

1453  48 

30 
31 
31 

N.  L.  Richmond  &  Co  .... 
Parker  Bros  
John  Winters,  Receiver  .  .  . 

665  55 
984  38 
971  20 

41  02 

665  55 
1025  40 
972  00 

Bal.  13536  23 

32070  68 

124  64 

17300  69 

6293  55 

Cash  Receipts.     4. 


Date 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe  

665  81 

665  81 

14 

18 

John  B.  Davis  
Dennis  &  Proctor 

546  23 
393  97 

13  50 

559  73 
393  97 

19 

Notes  Rec  

326  44 

329  68 

22 
23 
24 
24 
25 
26 
26 

Hammond  Supply  Co  
Walton  &  Carter  
Robert  Howe  
N.  L.  Richmond  &  Co.... 
Geo  M.  Daniels  &  Co  
Notes  Rec  
Interest 

1850  22 
175  56 
166  80 
575  98 
610  08 
135  32 
2  06 

6  34 
9  65 

1850  22 
175  56 
173  14 
575  98 
619  73 

137  36 

28 
29 
29 

Dennis  &  Proctor  
West  End  F.  &  F.  Co  
South  Side  Gro.  Co 

132  69 
416  70 
682  00 

3  71 

135  40 
416  70 
682  00 

30 
30 

Interest  
Notes  Rec  

21  05 
1382  70 

1403  99 

30 
31 

N.  L.  Richmond  &  Co  .... 
Parker  Bros  . 

659  08 

986  78 

41  12 

659  08 
1027  90 

31 

John  Winters,  Receiver  .  .  . 

964  00 

964  80 

Bal.  13448  48 

31982  93 

124  89 

17267  57 

6239  15 

50 


WHOLESALE  SET. 

VARIED  PRICE  LISTS. 
Gash  Receipts.    5. 


Date 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe  

664  56 

664  56 

14 

John  B.  Davis  

538  08 

13  52 

551  60 

18 

Dennis  &  Proctor  

388  72 

388  72 

19 

Notes  Rec  

322  24 

325  44 

22 
23 

Hammond  Supply  Co  
Walton  &  Carter  

1826  00 
173  25 

1826  00 
173  25 

24 

Robert  Howe 

125  76 

5  50 

131  26 

24 
25 

N.  L.  Richmond  &  Co  
Geo  M.  Daniels  &  Co 

583  36 
605  80 

9  66 

583  36 
615  46 

26 

Notes  Rec 

136  66 

138  72 

26 

Interest 

2  08 

28 

Dennis  &  Proctor  

131  07 

2  68 

133  75 

29 
29 

West  End  F.  &  F.  Co  
South  Side  Gro.  Co  

427  50 
673  85 

427  50 
673  85 

30 

Interest  

21  00 

30 

Notes  Rec  

1378  88 

1400  12 

30 
31 

N.  L.  Richmond  &  Co  
Parker  Bros 

65538 
996  43 

41  52 

655  38 
1037  95 

31 

John  Winters,  Receiver  .  .  . 

951  40 

952  20 

Bal.  13357  03 

31691  48 

124  45 

17182  39 

6232  40 

Gash  Receipts.    6. 


Date. 

Account. 

Cash  Dr 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe  

667  06 

667  06 

14 

John  B.  Davis  

538  16 

13  32 

551  48 

18 
19 

Dennis  &  Proctor  
Notes  Rec.   .  . 

387  22 
321  04 

387  22 

324  23 

22 
23 

Hammond  Supply  Co  
Walton  &  Carter 

1819  08 
172  59 

1819  08 
172  59 

24 

Robert  Howe 

145  98 

5  91 

151  89 

24 
25 
26 

N.  L.  Richmond  &  Co  
Geo.  M.  Daniels  &  Co  .... 
Notes  Rec  

571  33 
618  41 
136  17 

9  68 

571  33 
628  09 

138  22 

26 

Interest  

2  07 

28 
29 
29 

Dennis  &  Proctor  
West  End  F.  &  F.  Co  
South  Side  Gro.  Co  

130  46 

428  40 
671  40 

2  66 

133  12 
428  40 
671  40 

30 

Interest.  .  .  . 

20  39 

30 

Notes  Rec 

1338  80 

1359  42 

30 
31 

N.  L.  Richmond  &  Co  
Parker  Bros  j 

653  65 
1010  21 

42  09 

653  65 
1052  30 

31 

John  Winters,  Receiver  .  .  . 

947  80 

948  60 

Bal.  13335  23 

31869  68 

125  23 

17203  76 

6189  99 

WHOLESALE  SET. 

VARIED  PRICE  LISTS. 
Cash  Receipts.    7. 


51 


Date. 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe      

669  56 

669  56 

14 

John  B.  Davis  

537  09 

13  44 

550  53 

18 

Dennis  &  Proctor  

390  97 

390  97 

19 

Notes  Rec 

324  04 

327  26 

22 

Hammond  Supply  Co  

1836  38 

1836  38 

23 

Walton  &  Carter 

174  24 

174  24 

24 

Robert  Howe  

134  95 

5  69 

140  64 

24 

N  L  Richmond  &  Co.  .  .  . 

570  79 

570  79 

25 

Geo  M  Daniels  &  Co 

618  02 

9  67 

627  69 

26 

Notes  Rec      '.     

135  69 

137  73 

26 

Interest 

2  07 

28 

Dennis  &  Proctor  

131  30 

2  68 

133  98 

29 

West  End  F.  &  F.  Co  

417  60 

417  60 

29 

South  Side  Gro.  Co  

655  15 

655  15 

30 

Interest 

21  02 

30 

Notes  Rec  

1379  67 

1400  92 

30 
31 

N.  L.  Richmond  &  Co  
Parker  Bros  

655  35 

982  94 

40  96 

655  35 
1023  90 

31 

John  Winters,  Receiver  .  .  . 

956  80 

957  60 

Bal.  13348  64 

31883  09 

124  01 

17171  93 

6234  03 

Cash  Receipts.    8. 


Date. 

Account. 

Cash  Cr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe  

662  06 

662  06 

14 

John  B  Davis 

543  17 

13  43 

556  60 

18 

Dennis  &  Proctor  

387  60 

387  60 

19 

Notes  Rec 

321  34 

324  53 

22 
23 

Hammond  Supply  Co  
Walton  &  Carter 

1820  81 
172  76 

1820  81 
172  76 

24 

Robert  Howe  

152  71 

6  05 

158  76 

24 
25 
26 

N.  L.  Richmond  &  Co  
Geo.  M.  Daniel  &  Co  
Notes  Rec  

585  33 
617  41 
138  37 

9  68 

585  33 
627  09 

140  45 

26 

Interest  

2  11 

28 

Dennis  &  Proctor 

131  63 

2  69 

134  32 

29 
29 

West  End  F.  &  F.  Co  
South  Side  Gro.  Co 

431  10 

672  18 

431  10 
672  18 

30 

Interest 

21  30 

30 

Notes  Rec  

1398  58 

1420  12 

30 
31 

N.  L.  Richmond  &  Co  
Parker  Bros 

654  98 
1017  36 

42  39 

65498 
1059  75 

31 

John  Winters,  Receiver  .  .  . 

948  70 

949  50 

Bal.  13434  51 

31968  96 

125  81 

17240  39 

6253  22 

52 


WHOLESALE  SET. 

VARIED  PRICE  LISTS. 
Cash  Receipts.     9. 


Date. 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe 

665  81 

665  81 

14 

John  B   Davis 

541  36 

13  57 

554  93 

18 

Dennis  &  Proctor 

389  47 

389  47 

19 

Notes  Rec 

322  84 

326  05 

22 

Hammond  Supply  Co 

1829  46 

1829  46 

23 

24 

Walton  &  Carter  
Robert  Howe 

173  58 
139  23 

5  78 

173  58 
145  01 

24 
25 
26 

N.  L.  Richmond  &  Co  
Geo.  M.  Daniels  &  Co  
Notes  Rec 

586  97 
615  60 
138  99 

9  66 

586  97 
625  26 

141  08 

26 

Interest      

2  12 

28 
29 
29 

Dennis  &  Proctor  
West  End  F.  &  F.  Co  
South  Side  Gro.  Co  

132  40 
421  65 

674  78 

2  70 

135  10 
421  65 

674  78 

30 

Interest                        

21  59 

30 

Notes  Rec                      .  .  . 

1417  26 

1439  09 

30 
31 

N.  L.  Richmond  &  Co  .... 
Parker  Bros 

654  59 
1002  48 

41  77 

654  59 
1044  25 

31 

John  Winters,  Receiver.  .  . 

953  20 

954  00 

Bal.  13438  39 

31972  84 

125  05 

17222  41 

6274  34 

Cash  Receipts.     10. 


Date. 

Account. 

Cash  Dr. 

Sales 
Dis. 

Sales 
Ledg. 

Notes 
Rec. 

9 

Robert  Howe  

667  06 

667  06 

14 

John  B.  Davis  

541  57 

13  43 

555  00 

18 
19 
22 
23 

Dennis  &  Proctor  
Notes  Rec  
Hammond  Supply  Co  
Walton  &  Carter  

385  72 
319  84 
1812  16 
171  93 

385  72 

1812  16 
171  93 

323  02 

24 

Robert  Howe  .               .    . 

150  26 

6  00 

156  26 

24 
25 
26 

N.  L.  Richmond  &  Co.  .  .  . 
Geo.  M.  Daniels  &  Co.  .  .  . 
Notes  Rec 

578  94 
614  52 
135  93 

9  67 

578  94 
624  19 

137  98 

26 

Interest 

2  07 

28 

Dennis  &  Proctor  

130  83 

2  67 

133  50 

29 
29 
30 
30 

West  End  F.  &  F.  Co  
South  Side  Gro.  Co  
Interest  
Notes  Rec  

423  90 
668  65 
21  85 
1434  64 

423  90 
668  65 

1456  84 

30 
31 

N.  L.  Richmond  &  Co.  .  .  . 
Parker  Bros  

650  28 
1025  95 

42  75 

650  28 
1068  70 

31 

John  Winters,  Receiver.  .  . 

944  20 

945  00 

Bal.  13435  31 

31969  76 

126  09 

17208  84 

6285  96 

WHOLESALE  SET. 

VARIED  PRICE  LISTS. 

Journal. 


53 


No. 

Mar.  18. 

Mar.  18. 

Mar.  26. 

Mar.  30. 

Mar.  30. 

Accts. 
Rec.  Dr. 

Accts. 
Rec.  Cr. 

1 

29  46 

7  07 

3  26 

44 

46  42 

1329  72 

209  65 

2 

29  33 

7  04 

3  24 

47 

45  48 

1329  67 

208  61 

3 

30  06 

7  21 

3  29 

46 

47  50 

1329  89 

211  35 

4 

29  55 

7  09 

3  26 

44 

46  24 

1329  74 

209  56 

5 

30  62 

7  35 

3  22 

45 

46  76 

1329  96 

211  16 

6 

29  52 

7  09 

3  21 

45 

45  51 

1329  69 

208  81 

7 

30  18 

7  24 

3  24 

44 

46  46 

1329  87 

210  41 

8 

29  65 

7  12 

3  21 

47 

46  86 

1329  72 

210  31 

9 

30  15 

7  24 

3  23 

47 

47  44 

1329  86 

211  39 

10 

29  54 

7  09 

3  20 

44 

47  66 

1329  68 

210  97 

Closing  Journal  Entry. 


No. 

Sales. 

F.  M. 

Sales. 

Sales 
Dis- 
counts. 

' 
Interest. 

James  S. 
Reese. 

Wm.  T. 
Harris. 

John  B. 
Mason. 

1   11433  42 

8417  04 

222  02 

27  81 

865  29 

432  64 

865  28 

2   11321  07 

8387  96 

219  19 

27  83 

809  84   404  92   809  S3 

3   11595  64 

8480  33 

224  90   27  67 

954  39  1  477  20 

954  39 

4   11509  95 

8402  86   223  36   27  80 

889  69  '  444  85   889  69 

5   11391  50 

8337  56  j  224  52   27  54 

815  83 

407  92 

815  83 

6 

11393  33 

8312  75 

222  95   27  79 

807  17   403  58 

807  17 

7 

11461  11 

8328  81 

223  35 

27  63 

840  62 

420  31   840  61 

8 

11563  89 

8327  21 

225  03   27  76 

880  36   440  18  ;  880  35 

9 

11568  25 

8334  77 

225  35 

27  64 

885  05 

442  52  i  885  04 

10 

11625  43 

8272  75 

225  97 

27  91 

882  75 

441  38   882  75 

VARIED  PRICE  LISTS. 
Items  in  Trial  Balance  Mar.  31,  Which  Vary. 


No. 

Cash. 

Notes 
Rec. 

Accts 
Rec. 

Sales. 

Sales 
Disc'nts. 

F.  M. 

Sales. 

Interest. 

1 

13399  90 

1737  64 

5300  00 

11433  42 

222  02 

8417  04 

27  81 

2 

13311  85 

1734  44 

5252  63 

11321  07i  219  19 

8387  96 

27  83 

3 

13536  23  1752  18 

5371  90 

11595  64  224  90 

8480  33   27  67 

4 

13448  48  1739  77 

5310  31 

11509  951  223  36 

8402  86 

27  80 

5 

13357  03 

1765  66 

5191  22 

11391  50  224  52 

8337  56 

27  54 

6 

13335  23 

1739  10 

5217  92 

11393  33 

222  95 

8312  75 

27  79 

7 

13348  64  1754  99 

5272  24 

11461  11 

223  33 

8328  81  !  27  63 

8 

13434  51:  1742  20  i  5298  51 

11563  89;  225  03 

8327  21   27  76 

9 

13438  36 

1754  32  !  5294  23  11568  25  225  35 

8334  77   27  64 

10 

13435  31 

1739  48 

5306  42 

11625  43!  225  97 

8272  75 

27  91 

54  WHOLESALE  SET. 

VARIED  PRICE  LISTS. 
Trading  and  Profit  and  Loss  Statement  March  31. 


I. 

2. 

3. 

4. 

5. 

Gross  Sales  (Store) 

11503  87 

11393  07 

11668  04 

11581  75 

11463  30 

Returned  sales  . 

70  45 

72  00 

72  40 

71  80 

71  80 

Sales  discounts 

222  02 

219  19 

224  90 

223  36 

224  52 

Net  returns  from  sales.... 
G.  T.  Profit  (Store)  
F.  M.  Sales  

11182  00 
1796  93 
8417  04 

11072  48 
1687  41 
8387  96 

11341  34 
1956  27 
8480  33 

11257  19 
1872  12 
8402  86 

11137  58 
1752  51 
8337  56 

G.  T.  Profit  (F.  M.)  

2040  75 

2011  67 

2104  04 

2026  57 

1961  27 

Total  G.  T.  Profit  

3837  68 

3699  08 

4060  31 

3898  69 

3713  78 

Gross  income  

4017  58 

3878  98 

4240  21 

4078  59 

3893  68 

Interest  

27  81 

27  83 

27  67 

27  80 

27  54 

Total  expenses  

1854  37 

1854  39 

1854  23 

1854  36 

1854  10 

Net  profit.  .  . 

2163  21 

2024  59 

2385  98 

2224  23 

2039  58 

J.  S.  Reese  Cap.  % 

865  29 

809  84 

954  39 

889  69 

815  83 

W.  T.Harris  Cap.  %  
J.  B.  Mason  Cap  % 

432  64 

865  28 

404  92 
809  83 

477  20 
954  39 

444  85 
889  69 

407  92 
815  83 

6. 

7. 

8. 

9. 

10. 

Gross  sales  (Store)  

11462  08 

11532  81 

11633  64 

11639  90 

11693  98 

Returned  sales  

68  75 

71  70 

69  75 

71  65 

68  55 

Sales  discounts  

222  95 

223  33 

225  03 

225  35 

225  97 

Net  returns  from  sales  — 
G.  T.  Profit  (Store)  

11140  98 
1755  91 

11208  38 
1823  31 

11309  46 
1924  39 

11313  50 
1928  43 

11370  06 
1984  99 

F.  M.  Sales  . 

8312  75 

8328  81 

8327  21 

8334  77 

8272  75 

G.  T.  Profit  (F.  M.)  

1936  46 

1952  52 

1950  92 

1958  48 

1896  46 

Total  G.  F.  Profit 

3692  37 

3775  83 

3875  31 

3886  91 

3881  45 

Gross  income 

3872  27 

3955  73 

4055  21 

4066  81 

4061  35 

Interest  

27  79 

27  63 

27  76 

27  64 

27  91 

Total  expenses  

1854  35 

1854  19 

1854  32 

1854  20 

1854  47 

Net  Profit  

2017  92 

2101  54 

2200  89 

2212  61 

2206  88 

J.  S.  Reese  Cap.  %  

807  17 

840  62 

880  36 

885  05 

882  75 

W.  T.  Harris  Cap.  %  
J.  B.  Mason,  Cap  %  .  . 

403  58 
807  17 

42031 
840  61 

440  18 
880  35 

442  52 
885  04 

441  38 
882  75 

WHOLESASE  SET. 
VARIED  PRICE  LISTS. 
Statement  of  Resources  and  Liabilities,  March  31. 


55 


1. 

2. 

3. 

4. 

5. 

Cash          

13399  90 

13311  85 

13536  23 

13448  48 

13357  03 

Notes  receivable 

1737  64 

1734  44 

1752  18 

1739  77 

1765  66 

Accounts  receivable  

5300  00 

5252  63 

5371  90 

5310  31 

5191  22 

Total  current  resources.  .  . 
Total  resources  
Net  resources 

21325  93 
49519  21 
39663  21 

21187  31 
48780  59 
39524  59 

21548  70 
49141  98 

39885  98 

21386  95 
48980  23 
39724  23 

21202  30 
48795  58 
39539  58 

J.  S.  Reese  Cap.  %  

15865  29 

15809  84 

15954  39 

15889  69 

15815  83 

W.  T.  Harris  Cap.  %  
J.  B.  Mason  Cap.  %  

7932  64 
15865  28 

7904  92 
15809  83 

7977  20 
15954  39 

7944  85 
15889  69 

790792 
15815  83 

6. 

'• 

8. 

9. 

10. 

Cash  

13335  23 

13348  64 

13434  51 

13438  39 

13435  31 

Notes  receivable  
Accounts  receivable  

1739  10 
5217  92 

1754  99 
5272  24 

1742  20 
5298  51 

1754  32 
5294  23 

1739  48 
5306  42 

Total  current  resources.  .  . 
Total  resources  

21180  64 
48773  92 

21264  26 
48857  54 

21363  61 
48956  89 

21375  33 
48968  61 

21369  60 
48962  88 

Net  resources  

39517  92 

39601  54 

39700  89 

39712  61 

39706  88 

J.  S.  Reese  Cap.  %  
W.  T.  Harris  Cap.  %  
J.  B.  Mason  Cap.  %  

15807  17 
7903  58 
15807  17 

15840  62 
7920  31 
15840  61 

15880  36 
7940  18 
15880  35 

15885  05 
7942  52 
15885  04 

15882  75 
7941  38 
15882  75 

VARIED  PRICE  LISTS. 
Sales  Ledger  Balances,  March  31. 


1. 

2. 

3. 

4. 

5. 

Geo.  M.  Daniels  &  Co  

1974  15 

1964  93 

1992  60 

1977  84 

1952  01 

Dexter  Bros  

577  21 

575  93 

580  47 

574  21 

572  82 

Wm.  R.  Harper  &  Son.  ... 
R.  M.  Brooks  Co  

396  89 
364 

397  89 
365  63 

391  20 
362  38 

396  95 
355  06 

379  83 
364  81 

C.  R.  Morrison  &  Co  

1987  75 

1948  25 

2045  25 

2006  25 

1921  75 

Accts.  Rec.       Dr 

5300  00 

5252  63 

5371  90 

5310  31 

fjiQi  22 

6. 

7. 

8. 

9. 

10. 

Geo.  M.  Daniels  &  Co  
Dexter  Bros 

1944  63 
571  58 

1963  08 
571  39 

1946  48 
573  02 

1955  70 
571  36 

1937  25 
K«Q  98 

Wm.  R.  Harper  &  Son.  .  .  . 
R.  M.  Brooks  Co 

407  33 
365  63 

412  14 
355  88 

410  20 
368  06 

406  39 
359  53 

397  83 
361  56 

C.  R.  Morrison  &  Co  

1928  75 

1969  75 

2000  75 

2001  25 

2041  50 

Accts  Rec        Dr 

5217  92 

5272  24 

ejOQS  ^1 

CJ2Q4  OQ 

KQOfi  42 

56 


WHOLESALE  SET. 


COMPLEMENTARY  WORK. 
Jan.  7.     Exercises  in  Insurance  Accounts.     Budget  Page  18. 

2. 
From  Text  p.  97. 

1.  Insurance. 


Mar.  1 

1  yr.  1% 

80 

Dec.  31    10  mo.  j   66  67 

Aug.  1 

"  U% 

75 

5  " 

31  25 

Nov.  1 

"  11% 

12  50 

2  " 

2  08 

Ba1. 

67  50 

167  50 

167  50 

2.  Insurance. 


Jan. 

2 

48 

July 

1 

20 

Mar. 

15 

19  20 

1 

28 

Apr. 

1 

28  80 

Dec. 

31 

15  20 

31 

21  60 

Bal. 

11  20 

96 

96 

- 

3.  Insurance. 


Date    of 
Policy. 

Amount     of 
Policy. 

Dr. 

Date. 

Detail. 

Cr. 

Date  of 
Policy. 

Jan.       4 

4000            43  20     Jan.    31 

1   mo. 

3  60 

Jan       4 

Feb.     28 

2000        i    21  60     Feb.    28 

1     " 

3  60 

4 

Mar.    25 

6000        i    64  80     Mar.  31   1.    "       3  60 

4 

July       7            3000 

32  40                31   1     "       1  80 

5  40 

Feb.    28 

Nov.      1 

2000 

21  60    |Apr.    30  1     "       3  60 

Jan.      4 

1 

2000        ;    21  60                30  1     «       i  80 

Feb.    28 

30 

1     "       5  40 

10  80 

Mar.  25 

May    31 

1     "       3^60 

Jan.      4 

31 

1     "       1.80 

Feb.    28 

31 

1     "       5  40 

10  80 

Mar.   25 

June  30 

1     "       3  60 

Jan.      4 

- 

30 

1     "       1  80 

Feb.    28 

30 

1     "       5  40 

10  80 

Mar.  25 

July    31 

1     "       3  60 

Jan.      4 

31 

1     "       1.80 

Feb.    28 

31 

1     "       5  40 

Mar.   25 

31 

1     "       2  70 

13  50 

July      7 

Aug.   31 

1     "      ¥1>0 

Jan.      4 

' 

31 

1     "       1  80 

Feb.    28 

31 

1     "       5  40 

Mar.   25 

31  il     "       2  70j     13  50 

July      7 

Continued  Page  57. 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Jan.  7 — Continued. 

Exercises  in  Insurance  Accounts. 

Budget  Page  18. 

3 — Continued. 


57 


Sept.  30 

1  mo.  3  60 

Jan.   4 

30 

1  "   1  80 

Feb.  28 

30 

1  "   5  40 

Mar.  25 

30 

1  "   2  70 

13  50 

July   7 

Oct.  31 

1  "   3  60 

Jan.   4 

31 

1  "   1  80 

Feb.  28 

31 

1  "   5  40 

Mar.  25 

1 

1  "   2  70 

13  50 

July   7 

Nov.  30 

1  "   3  60 

Jan.   4 

30 

1  "   1  80 

Feb.  28 

30 

1  "   5  40 

Mar.  25 

30 

"   2  70 

July   7 

30 

"   1  80 

Nov   1 

30 

"   1  80 

17  10 

Nov.  1 

Dec.  31 

"   3  60 

Jan.   4 

31 

"   1.80 

Feb.  28 

31 

"   5  40 

Mar.  25 

31 

"   2  70 

July   7 

31 

"   1  80 

Nov.  1 

31 

"   1  80 

17  10 

Nov.  1 

133  20 

Bal. 

72 

205  20 

205  20 

4. 
From  Text  p.  99. 

1. 

Insurance  Expense. 


Dec.  31 

Expired  pre.  val.    10  mo. 

66  67 

Dec.    31 

To    close 

100  00 

5  mo. 

31  25 

2  mo. 

2  08 

10000 

100  00 

2. 
Insurance  Expense. 


Julyl 
Dec.  1 

Expired  pre.  val  pol.  can. 
"    "     Qimo. 
"    "     9     " 

28  00 
15  20 
21  60 

Dec.    31 

To  close 

64  80 

64  80 

64  80 

58  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 
Jan.  7— Gont.     Exercises  in  Insurance  Accounts.     Budget  Page  18. 

3.    Insurance  Expense. 


Date.                     Detail. 

Dr. 

Date. 

Cr. 

Jan.     31     Exp.  pre.  val  1    mo. 
Feb.     28                "            1     " 

3  60 
3  60 

Dec.   31 

To  close 

133  20 

Mar.    31                «            1     "   3  60 

Apr.     30 
May    31 
June    30 

1     "   1  80 

5  40 
1080 
10  80 
10  80 

Note: 
This 
shows     t 
results  as 
ance  expe 
but  in  a 
form. 

solution 
be  same 
an  insur- 
nse  book, 
different 

"            1     "  3  60 
1     "   1  80 
"            1     "  5  40 
"            1     "  3  60 
"            1     "   1  80 
1     «  5  40 

"            1     "  3  60 
1     "   1  80 
1     "   5  40 

July     31 

1     "  3  60 

1     "   1  80 

1     "   5  40 

Aug.    31 

1     "   2  70 

13  50 

1     "  3  60 
1     "   1  80 

1     "   5  40 

Sept.    30 

"            1     "   2  70 

13  50 

1     "   3  60 
1     "   1  80 

1     "   5  40 

Oct.     31 

1     "  2  70 

13  50 

1     "  3  60 

1     "   1  80 

1     "   5  40 

Nov.    30 

1     "  2  70 

13  50 

1     "  3  60 

1     "   1  80 

1     "  5  40 

1     "  2  70 

1     "   1  80 

Dec.    31 

"            1     "   1  80 

17  10 

1     "  3  60 

"            1     "   1  80 

1     "  5  40 
1     "   2  70 

1     "   1  80 

1      "   1  80       17  10 

133  20 

133  20 

WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Jan.  7 — Continued. 

Exercises  in  Insurance  Accounts. 

Budget  Page  18. 


59 


Journal  Entries. 


July 

August 

September 

October 


Insurance  Expense. 

Insurance 

Insurance 

Insurance 

Insurance. . . 


3  75 

5  62 

7  71 
11  87 


3  75 


6. 
Insurance  Expense  Book. 


Prem. 

Jan. 

Feb. 

Mar. 

Apr. 

May 

June 

July 

Aug. 

Sep. 

Oct. 

Nov. 

Dec. 

U.P. 

Jan.  1 

28  80  2  40 

240 

2  40 

2  40 

2  40 

240 

240 

2  40 

2  40 

2  40 

240 

2  40 

Feb.  1  19  20 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

1  60 

Mar.  1  9  60 

80 

80 

80 

80 

80 

80 

80 

80 

80 

80 

1  60 

May  1 

24 

2 

2 

2 

2 

o 

2 

2 

2 

8 

July  1 

1440 

1  20 

1  20 

1  20 

1  20 

1  20 

1  20 

7  20 

Aug.  1 

4  80 

40 

40 

40 

40 

40 

2  80 

Oct.  1 

24 

2 

2 

2 

18 

Nov. 

6  40 

53 

53 

534 

131  20  2  40 

4  00 

4  80 

480 

6  80 

6  80 

8  00 

840 

840 

10  40  10  93 

10  93  44  54 

Jan.  11. 

Exercises  in  Warehouse  Accounts. 
Budget  Page  22. 

1. 

From  Text  p.  59-60. 
Warehouse  Supplies. 


Boxes  

146  19 

Boxes 

13  20 

Brls  ... 

8 

To  close 

206  59 

Nails  

4  75 

Paper  

18  45 

Twine  

4  50 

Strap  

31  20 

Ex.. 

6  70 

219  79 

219  79 

Addition  to  cost  of  mdse.  206  59 


60 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Jan.  11 — Continued. 

Exercises  in  Warehouse  Accounts. 

Arithmetical  Problems. 

From  Text  p.  60. 


1. 


Costs. 
151  50 
34 

Deductions. 
9  60 
12  50 

Costs. 
216  50 
2619  84 

Deductions. 
15  20 
45  20 

3  50 

1020 
22  16 
5 

22  10 

54  26 
34 
116  40 
71  20 

60  40 

21  60 
9  50 

3112  20 
60  40 

257  46 
22  10 

3051  80  Net  cost. 

Jan.  14. 

Exercises  in  Merchandise  Discounts. 
Budget  Page  24. 

5. 
From  Text  p.  68-69. 


1.                        2. 

Purchase  Discounts.             Sales  Discounts. 

26  11 

317  45 

326  65 

6  50 

7  42 

287  50 

512  62 

3  65 

To  close  21  15  91 

411  16 

387  90 

2262  77 

To  close 

275  76 

216  65 

471  12 

312  30 

386  45 

516  80 

2149  44 

2149  44 

2272  92 

2272  92 

(a)  Would  decrease  cost  of  prchs. 

(b)  Would  increase  gains  or  decrease  losses. 


3. 


Purchase  Discounts. 


Sales  Discounts. 


To  close  35  13 

14  60 

3  65       31  67  To  close 

8  12 

13  45 

5  75 

6  41 

6  66 

3  66 

35  13 

35  13 

4  50 

31  67 

31  67 

WHOLESALE  SET.  61 

COMPLEMENTARY  WORK. 

Jan.  14 — continued. 
Exercises  in  Merchandise  Discounts.     Arithmetical  Problems. 

1.  2. 


416  21 
213  20 

67  89 

89  98 
114  96 
342  25 
211  88 
401 
740  01 

55 
30 

charged  back 
charged  back 

85 

697  30  Total  purchase  discounts. 
24  83  Not  allowed 

672  47  Net  purchase  discounts. 

1900  08  Total  sales  discounts. 
85       Charged  back. 


1815  08  Net  sales  discounts. 


Jan.  15. 

Exercises  in  Proprietor's  and  Partner's  Personal  Accounts. 
Budget  Page  27. 
From  Text  p.  23. 

1.  2. 

F.  A.  Raymond,  Personal.  B.  M.  Beck,  Personal. 


15 
10  50 
100 
24 

200  00 

25  00 
16  00 
100  00 
Bal.  109  00 

100  00 
150  00 

Bal.   50  50 

25000 

25000 

200  00 

20000 

Jan.  18. 
Exercises  in  Calculating  Discounts.     Budget  Pages  30-31. 


1. 

$  67  03 

6. 

(a) 

$  792 

29 

9. 

(a) 

$1024 

85 

Am't  bill  rend. 

2. 

2649  64 

(b) 

286 

87 

(b) 

30 

75 

Cash  discounts 

3. 

8  69 

7. 

(a) 

25 

Loss. 

(c) 

994 

10 

Am't  of  check. 

4. 

46  82 

(b) 

425 

Gain 

10. 

3650 

49 

5. 

240days 

8. 

30500 

Jan.  24. 

Exercises  in  Opening  Double  Entry  Books. 

1. 

R.  V.  Stewart  Capital  %. 


Budget  Page  37. 


Cash 4000 

Mdse 1200 

F.N.B.  Stock ^000 

6200 


Net  Capital 6200 


6200 


62 


WHOLESALE  SET. 


COMPLEMENTARY  WORK. 

Jan.  24 — continued. 
Exercises  in  Opening  Double  Entry  Books.    Budget  Page  37. 

1 — continued. 
Chas.  Wilson  Capital  % 


Cash 3000 

Notes  Rec 2200 

J.  Matthews 1000 

6200 


Net  Capital 6200 


6200 


2. 

Henry  Garland  Capital  % 


Cash 

5800 

Notes  Pay 

750 

Mdse  

6436  12 

B.  Fischer  &  Co  

122  75 

Notes  Rec  

600 

Net  Capital  

12258  47 

Int  

7  50 

J.  B.  Meyers  &  Co.  .  . 

287  60 

13131  22 

13131  22 

Horace  Hamlin  Capital  % 

Cash  

3500 

Net  Capital 

14249  21 

Mdse           

.   .   .    9460 

Notes  Rec 

1275 

Int                  .   . 

14  21 

1424921 

14249  21 

3. 
John  Kent  Capital  % 


Cash  

1800 

Mort.  Pay  

2000 

Notes  Rec  

400 

Net  Capital  

16200 

H  S.  &  Lot. 

....    16000 

18200 

18200 

C.  D.  Calhoun  Capital  % 


Cash  

3000 

Net  Capital                              7000 

Accounts  Rec 

4000 

7000 

7000 

Frank  Brown  Capital  % 


Cash  

8000 

Net  Capital 

14000 

Mdse  

6000 

14000 

14000 

WHOLESALE  SET.  63 

COMPLEMENTARY  WORK. 

Jan.  31. 

Exercises  in  Preparing  Statements. 
Budget  Pages  58-59-60. 

1. 

Trading  and  Profit  &  Loss  Statement,  January  31,  19    . 
James  S.  Reese  &  Co. 

Returns. 

Gross  Sales 8281  70 

Less,  -  Goods  returned 13  78     8267  92 

Less,  -  Sales  rebates  and  allowances 7  84 

Less,  -  Sales  discounts 48  91        56  75 

Net  returns  from  sales 8211  17 

Costs. 

Purchases 12290  43 

Freight-In  on  purchases 291  46 

Warehouse  Supplies 72  18 

Warehouse  Labor 90 

Total  cost  of  purchases 12744  07 

Less,  -  Purchase  discounts 82  23 

Net  cost  of  purchases 12661  84~ 

Less,  -  Inventory,   Jan.  31,  19 7126  48 

Cost  of  merchandise  sold •  ~    5535  36 

Gross  trading  profit  for  month 2675  81 

Incomes. 
Interest 14  85 

Total  income 2690  66 

Expenses. 
Selling  expenses 

Delivery  charges 11  40 

Credit  reports 9  50 

Advertising 11  50 

Salesman's  salary 50 

Traveling  expense 16  73        99  13 

Administrative  expenses 

Salaries  of  partners 300 

Salaries  of  office  help 115 

Postage 7  80 

Telegrams 2  20 

Books  and  stationery 11  65      436  65 

General  expenses 

Coal 32  50 

Light 7  84 

Rent 80 

Repairing  office  furniture 18  85      139  19 

Insurance  expense 4  75 

Total  expenses ~~  679  72 

Net  profit  for  the  month 2010  94 

Distribution  of  profit 

James  S.  Reese,  Capital  %,  2/3  profit 1340  63 

Wm.  T.  Harris,  Capital  %,  1/3  profit 670  31 

!  2010  94     2010  94 


64  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Jan.  31. 

Exercises  in  Preparing  Statements. 
Budget  Pages  58-59-60. 

1. 

Statement  of  Resources  and  Liabilities,  January  31,  19 
James  S.  Reese  &  Co. 


Resources. 

Cash 2560  96 

Merchandise,  per  inventory  Jan.  31,  19     7126  48 

Notes  Receivable 1624  15 

Accounts  Receivable 3214  48 

Total  current  resources 14526  07 

Furniture  &  Fixtures,  Investment 328  40 

James  S.  Reese,  Personal  % 10  25 

Insurance  -  unexpired  premiums 52  25 

Ben  Myers,  Salesman 13  25 

Sundry  Resource  Inventories 92  60         168  35 

Total  resources ~~  15022  82 

Liabilities. 
Accounts  Payable,  - 

Martin  Gillett  &  Co 726  45 

Francis  H.  Leggett  &  Co 268  23 

Total  current  liabilities 994  68 

Wm.  T.  Harris,  Personal  % 17  20 

Total  liabilities ~  1011  88 

Net  resources 14010  94 

Represented  by 

James  S.  Reese,  Capital  " 8000  00  i 

Add  2/3  profit  for  January 1340  63     9340  63 

Wm.  T.  Harris,  Capital  % 4000  00 

Add  1/3  profit  for  January 670  31     4670  31     14010  94 


NOTE:    The  technical  forms  of  the  statements  for  the  complementary 
exercises  are  not  shown. 

Journal  Entry  to  Close. 


Inventory 

Sales 

Purchase  Discounts 

Interest 

Purchases 

Freight-In 

Warehouse  Supplies 

Warehouse  Labor 

Sales  Rebates  and  Allowances. . . 

Sales  Discounts 

Selling  Expense 

Traveling  Expense 

Expense 

Insurance  Expense 

James  S.  Reese,  Capital  % 

Wm.  T.  Harris,  Capital  " 


7126  48 

8267  92 

82  23 

14  85 


12290  43 

291  46 

72  18 

90 

7  84 

48  91 

82  40 

16  73 

575  84 

4  75 

1340  63 

670  31 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Jan.  31. 

Exercises  in  Preparing  Statements. 
Budget  Pages  58-59-60. 

2. 

Trading  and  Profit  &  Loss  Statement,  April  30,  19 
Thomas  A.  Woods  &  Go. 


65 


Returns. 

Gross  Sales I  8515  18 

Less,  -  Sales  rebates  and  allowances 26  1 

Less,  -  Sales  discounts 205  4        231  57 

Net  returns  from  sales ~  8283  61 

Costs. 

Inventory,  March  31,  19     297650 

Purchases  for  month 9785 

Freight-In  on  purchases 478  2 

Warehouse  Supplies 91  2 

Warehouse  Labor 120 

Total  cost  of  purchases j  13451  23 

Less,  -  Purchase  discounts |      225  46 

Net  cost  of  purchases 13225  77 

Less,  -  Inventory  April  30,  19     5624  25 

Cost  of  goods  sold ~  7601  52 

Gross  trading  profit  for  the  month 682  09 

Expenses. 
Selling  expenses 

Delivery  charges 19  80 

Advertising 48  50 

Salesman's  salary 75 

Salesman's  commission 13  95 

Traveling  expenses 16  72       173  97 

Administrative  expenses 

Salaries  of  partners 250 

Salaries  of  office  force 120 

Postage 16  30 

Telephone 10  05 

Telegrams 8  45      404  80 

General  expenses 

Rent 75 

Coal 1250 

Light 3  83 

Repairs  on  office  fixtures ; 15  80 

Taxes 14  25       121  38 

Insurance  expense f          4  60 

Interest 19  16 

Total  expenses. 723  91 

Net  loss  for  the  month 41  82 

Distribution  of  loss 

Thomas  A.  Woods,  Capital  %,  1/2  loss I        20  91 

William  C.  Jones,  Capital  %,  1/2  loss 20  91 

41  82        41  82 


66  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Jan.  31. 

Exercises  in  Preparing  Statements. 
Budget  Pages  58-59-60. 

2. 

Statement  of  Resources  and  Liabilities,  April  30,  19 
Thomas  A.  Woods  &  Co. 


Resources. 

Cash 5735  71 

Merchandise,  per  inventory,  April  30, 19     5624  25 

Notes  Receivable 1127  84 

Accounts  Receivable 5627  14 

Total  current  resources .-  18114  94 

Furniture  &  Fixtures  Investment 425  42 

Insurance,  -  unexpired  premiums 50  60 

Sundry  Resource  Inventories 62  14        112  74 

Total  resources ~~  18653  10 

Liabilities. 

Notes  Payable 1675  21 

Accounts  Payable 1271  20 

Total  current  liabilities 2946  41 

Thomas  A.  Woods,  Personal  % 6  26 

William  C.  Jones,  Personal  % 17  21 

R.  J.  Smith,  Salesman 4  24 

Total  liabilities 2974  12 

Net  resources 15678~98 

Represented  by 

Thomas  A.  Woods,  Capital  % 7860  40 

Less  |  loss  for  April 20  91  7839  49 

William  C.  Jones,  Capital  % 7860  40 

Less  |  loss  for  April 20  91  7839  49     15678  98 

Journal  Entry  to  Close. 

Inventory 5624  25 

Sales .f 8315  18 

Purchase  Discounts 225  46 

Thomas  A.  Woods,  Capital  % 20  91 

Wm.  C.  Jones,  Capital  % 20  91 

Inventory 2976  50 

Purchases 9785  24 

Freight-In 478  25 

Warehouse  Supplies 91  24 

Warehouse  Labor 120 

Sales  Rebates  &  Allowances 26  14 

Sales  Discounts 205  43 

Selling  Expense 157  25 

Traveling  Expense 16  72 

Expense 526  18 

Interest 19  16 

Insurance  Expense 4  60 


WHOLESALE  SET. 


67 


COMPLEMENTARY  WORK. 

Jan.  31. 
Exercises  in  Preparing  Statements.     Budget  Pages  58-59-60. 

3. 
Trading  and  Profit  &  Loss  Statement,  June  30, 19    .    Johnson  &  Clark. 


Returns. 

Gross  Sales 13286  341 

Less,  -  Returned  sales 35  28|  13251  06 

Less,  -  Sales  rebates  and  allowances 23  80 

Less,  -  Sales  discounts 389  72      413  52 

Net  returns  from  sales "  12837  54 

Costs. 

Inventory,  May  31,  19     2642  51 

Purchases 15720  37 

Less,  -  Purchase  rebates 28  50     15691  87 

Freight-In  on  purchases 762  19 

Warehouse  supplies 178  25 

Warehouse  labor 140 

Total  cost  of  purchases 19414  82 

Less,  -  Purchase  discounts 421  97 

Net  cost  of  purchases 18992  85 

Less,  -  Inventory  June  30,  19    9598  75 

Cost  of  merchandise  sold ~~  9394  10 

Gross  trading  profit  for  month 3443  44 

Incomes. 
Interest 22  62 

Total  income 3466  06 

Expenses. 
Selling  expenses 

Advertising 15 

Credit  reports 9  50 

Salesman's  salary  (A.  B.  Jones) 75 

Salesman's  commission  (A.  B.  Jones) 35  72 

Delivery  charges 36  25 

Storage 10  50 

Printing  salesman's  order  books 5  25 

Traveling  expenses  (A.  B.  Jones,  Salesman)      97  18        284  40 
Administrative  expenses 

Salaries  of  partners 350 

Salaries  of  office  force 140 

Postage 18  50 

Telephone 8  25 

Telegrams 3  20 

Attorney's  fees 20 

Books  &  Stationery 17  28        557  23 

General  expenses 

Rent 100 

Taxes 34  15 

Coal 12  60 

Light .f 7  25 

Miscellaneous  repairs 14  25 

Street  improvement  assessment 19  73         187  98 

Insurance  expense 15  60 

Total  expenses >  1045  21 

Net  profit  for  the  month 2420  85 

Distribution  of  profit 

B.  A.  Johnson,  Capital  %,  1/3  profit 806  95 

R.  C.  Clark,  Capital  %,  2/3  profit 1613  90 

2420  85     2420  85 


68 


WHOLESALE  SET. 


COMPLEMENTARY  WORK. 

Jan.  31. 

Exercises  in  Preparing  Statements. 

Budget  Pages  58-59-60. 

3. 

Statement  of  Resources  and  Liabilities,  June  30,  19 
Johnson  &  Clark. 


Resources. 

Cash 

Merchandise,  per  inventory  June  30, 19 

Notes  Receivable 

Accounts  Receivable. . 


Total  current  resources 

Furniture  &  Fixtures  Investment. 

Insurance 

R.  C.  Clark,  Personal  % 

H.  A.  Parker,  Salesman 

M.  G.  White,  Salesman 

Sundry  Resource  Inventories 

Total  resources 

Liabilities. 

Notes  Payable 

Accounts  Payable 

Total  current  liabilities 

B.  A.  Johnson,  Personal  % 

Total  liabilities. . 


5454  66 
9598  75 
4218  20 
6224  73 


171  60 
16  85 
14  86 
26  15 

126  14 


2596  34 
725  60 


355  60 


926  41 

1777  94 

2704  35 

79  50 


Net  resources 

Represented  by 

B.  A.  Johnson,  Capital  % 7124  28 

Add  1/3  profit  for  June 806  95 

R.  C.  Clark,  Capital  % 14248  56 

Add  2/3  profit  for  June 1613  90 


26577  54 


2783  85 


23793  69 

7931  23 
15862  46|  23793  69 


Journal  Entry  to  Close. 


Inventory  

9598  75 

Sales 

13251  06 

Purchase  Discounts.  ... 

421  97 

Interest 

22  62 

Inventory  

2642  51 

Purchases 

15691  87 

Freight-In  

762,  19 

Warehouse  Supplies.  

178  25 

Warehouse  Labor  

140 

Sales  Rebates  &  Allowances 

23  80 

Sales  Discounts  

389  72 

Selling  Expense.  . 

187  22 

Traveling  Expense  

97  18 

Expense  

745  21 

Insurance  Expense  
B.  A.  Johnson,  Capital  %    . 

15  60 
806  95 

R.  C.  Clark,  Capital  % 

1613  90 

69 

Page  58.     Exercises  in  Analysis  of  Statements  on  a  Percentage  Basis. 

Jan.  31. 


Statements 

1 

2 

3 

3    Per  cent  of  gross  trading  profit  

48  34% 

8  97% 

36  66% 

5    Per  cent  of  net  trading  profit 

46  55% 

6  68% 

33  63% 

6    Per  cent  of  sales  returned  

17% 

27% 

7.  Per  cent  of  rebates  and  allowances  on  sales 
9.  Per  cent  of  cost  of  purchases  represented  by 
warehouse  expenses. 

-09% 
1  27% 

-31% 
1  57% 

•18% 
1  64% 

10.  Per  cent  of  purchase  discounts  on  purchases 
11    Per  cent  of  sales  discounts  on  sales  .  . 

.65% 
59% 

1.68% 

2  41% 

2.17% 
2  94% 

12.  Per  cent  of  net  sales  required  to  meet  sell- 
ing expenses       

1  20% 

2  04% 

2  15% 

13.  Per  cent  of  net  sales  required  to  meet 
(a)  admin,  expenses  

5.28% 

4  75% 

4  21% 

(b)  general  expenses 

1  68% 

1  43% 

1  42% 

14.  Per  cent  of  gross  trading  profit  required  to 
meet  all  expenses 

25  40% 

106  13% 

30  35% 

15.  Per  cent  of  gross  trading  profit  required  to 
meet  (a)  selling  expenses  
Per  cent  of  gross  trading  profit  required  to 
meet  (b)  admin,  expenses  
Per  cent  of  gross  trading  profit  required  to 
meet  (c)  general  expenses  
16.  Per  cent  to  be  added  to  cost  price  to  meet 
(a)  selling  expenses  

3.70% 
16.32% 
5.20% 
1.79% 

25.51% 
59.35% 
17.80% 
2.29% 

8.26% 
16.18% 
5.46% 
3,03% 

(b)  admin,  expenses 

7  89% 

5  33% 

5  93% 

(c)  general  expenses  

2.51% 

1-60% 

2.00% 

18.   Per  cent  of  net  profit  on  capital  invested.  .  . 
Per  cent  of  net  loss  on  capital  invested.  .  .  . 

16.76% 

.27% 

11.33% 

70 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  1. 

Administrative  and  General  Expenses. 
Budget  Page  61. 

1. 

From  Text  p.  90,  91,  94. 
1.  2. 


Administrative  Expense. 


Administrative  Expense. 


3000        12  50 

5000 

7290  44  To  close 

1200        2  60 

1800 

157  16    5731  89  To  close 

142 

75 

122 

130 

71  65 

81 

50 

500 

50 

200 

86 

19 

150 

7290 

44      7290  44 

346  18 

5746  99    5746  99 

Net  cost  7290  44 

Net  cost  5731  89 

Arithmetical  Problems. 

1. 

2. 

4000 

2500 

1600 

975 

9645 

60 

150 

72  30 

92  35 

61  25 

700 

250 

380 

75 

167  18 

30 

7185  98  Net  cost. 

75 

Net  cost    4098  55 

1. 

2. 

General  Expense. 

General  Expense. 

100 

293  99  To  close 

125 

2  15 

17  50 

5 

60      296  01  To  close 

30 

45 

60 

6  50 

8 

96 

48 

100 

75  84 

8 

9 

5 

7  15 

298 

16      298  16 

293  99      293  99 

1. 


WHOLESALE  SET. 
COMPLEMENTARY  WORK. 

Feb.  1.— Continued. 
Administrative  &  General  Expenses. 

Budget  Page  61. 
Arithmetical  Problems. 

2.  3. 


71 


125 

26  50 

27  50 
57  21 


25J 

8 

305  21 


Returns. 
12  00 


Balance  J516  43 

2. 
From  Budget  Page  61, 


Costs. 

35 
8  75 
450 
7  56 

12 

14  87 
6 

88  68 
4 


Returns. 
4  00 


Balance  84 


Items. 


Admin. 
Ex. 


Gen. 
Ex. 


Rent 60 

Postage 5 

Light £    250 

Directors'  fees 100 

Coal 12 

Insurance 16  50 

Salaries  of  officers 200 

Attorney's  fees 15 

Telephone  charges 8  60 

Manager's  salary 125 

Stationery 8  25 

Light 4  50 

Heat 12 

Legal  advice 10 

Taxes 38  40 

Cleaning  offices 

Lettering  office  doors 1  60 

Traveling  expenses  of  manager 40 

Telegrams 2  60 

Advertising  for  office  help 3  50 

City  directory 8 

Meals  for  employees 12 

Street  improvement  assessment 16  25 

Office  supplies 3  25 

Typewriter  supplies 1  85 

Janitor's  supplies 1  50 

Repairs  on  office  furniture 7  25 

535  05 I83~ 


72 


Feb.  5. 

Exercises  in  Merchandise  Account. 
Budget  Pages  68-69. 

1. 
Merchandise. 


Inventory 3600 

Purchases 43756 

Returned  sales 2141 

Sales  discounts 1263 

Sales  reb.  and  allow 214 

Warehouse  exp.  and  labor. . .     768 
Gross  trading  profit 3881 


17 


55623  17 


Sales .....47643  12 

Purchase  discounts 1963  56 

Returned  purchases 591  12 

Purchase  reb.  and  allow 843  72 

Inventory ". .  4581  65 


55623  17 


2. 


Inventory. 


4581  65 !  Sales..  .  .49972 


Purchases 63796  20 


Returned  sales 

Sales  discounts 

Sales  reb.  and  allow 

Warehouse  exp.  and  labor.. 


1621  12 
1456  35 
121 
1426  66 


73002  98 


Purchase  discounts 

Returned  purchases 

Purchase  reb.  and  allow. 

Inventory 

Gross  trading  loss 


.  2163  56 
.  316  80 

45 

.18747  16 
.  1758  46 
73002  98 


Inventory 18747  16 

Purchases 122616 

Returned  sales 6412 

Sales  discounts 2175 

Sales  reb.  and  allow 12  60 

Warehouse  exp.  and  labor.  2178  39 

Gross  trading  profit 11942  36 


164083  51 


Inventory 16009  21 


Sales 144345 

Purchase  discounts 3651  64 

Purchase  reb.  and  allow..    77  66 
Inventory 16009  21 


164083  51 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  5 — Continued. 

Exercises  in  Merchandise  Account. 

Budget  Pages  68-69. 

4. 
Trading  Statement  for  Ex.  1.  Above. 


73 


Returns. 

Gross  sales. 47643  12 

Less,  -  Returned  sales 2141        45502  12 

Less,  -  Sales  rebates  and  allowances 214 

Less,  -  Sales  discounts 1263          1477 

Net  returns  from  sales 44025  12 

Costs. 

Inventory,  Jan.  1,19 3600 

Purchases 43756 

Less,  -  Returned  purchases 591  12 

Less,  -  Purchase  reb.  and  allow 843  72    1434  84  42321  16 

Add,  Warehouse  expense  and  labor 768 

Total  cost  of  purchases 46689  16 

Less,  -  Purchase  discounts 1963  56 

Net  cost  of  purchases 44725  60 

Less,  -  Inventory,  Dec  31,  19    4581  65 

Cost  of  merchandise  sold 40143  95 

Gross  trading  profit  for  the  year 3881  17 

Journal  entry  to  close. 

Inventory,  Dec.  31,  19 458165 

Sales 45502  12  , 

Purchase  Discounts 1963  56 

Inventory,  Jan.  1,  19     3600 

Purchases 42321  16 

Sales  Discounts 1263 

Sales  Rebates  and  Allowance 214 

Warehouse  Expense  and  Labor 768 

Gross  Trading  Profit 3881  17 


74 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  5— Continued. 

Exercises  in  Merchandise  Account. 

Budget  Pages  68-69. 

5. 
Trading  Statement  for  Ex.  2  Above. 


Returns. 

Gross  sales 49972 

Less,  -  Returned  sales 1621  12J  48350  88 

Less,  -  Sales  rebates  and  allowances 121 

Less,  -  Sales  discounts 1456  35     1577  35 

Net  returns  from  sales 46773  53 

Costs. 

Inventory,  Jan.  1,  19    4581  65 

Purchases 63796  20 

Less,  -  Returned  purchases 316  80 

Less,  -  Purchase  reb.  and  allow 45  361  80  63434  40 

Add,  Warehouse  expense  and  labor 1426  66 

Total  cost  of  purchases 69442  71 

Less,  -  Purchase  discounts 2163  56 

Net  cost  of  purchases 67279  15 

Less,-  Inventory,  Dec.  31,  19    18747  16 

Cost  of  merchandise  sold 48531  99 

Gross  trading  loss  for  the  year ; T*  1758  46 

Journal  entry  to  close. 

Inventory,  Dec.  31,  19 18747  16 

Sales 48350  88 

Purchase  Discounts 2163  56 

Gross  Trading  Loss 1758  46 

Inventory,  Jan.  1,  19    4581  65 

Purchases 63434  40 

Sales  Discounts 1456  35 

Sales  Rebates  and  Allowances 121 

Warehouse  Expense  and  Labor 1426  66 


Feb.  5 — Continued. 

Exercises  in  Merchandise  Account. 

Budget  Pages  68-69. 

6. 
Trading  statement  for  Ex.  3. 


75 


Returns. 

Gross  sales 

Less,  -  Returned  sales 

Less,  -  Sales  rebates  and  allowances. 

Less,  -  Sales  discounts 

Net  returns  from  sales. . 


Costs. 

Inventory,  Jan.  1, 19    

Purchases 

Less,  -  Purchase  reb.  and  allow. . 
Warehouse  expense  and  labor — 

Total  cost  of  purchases 

Less,  -  Purchase  discounts 

Net  cost  of  purchases 

Less,  -  Inventory,  Dec.  31,  19 

Cost  of  merchandise  sold 

Gross  trading  profit  for  the  year. 


.122616 

77  66122538 


144345 
6412 


12  60 
2175 


18747  16 


34 
2178  39 


143463  89 
3651  64 


139812  25 
16009  21 


137933 
2187  60 


135745  40 


123803  04 
11942  36 


Journal  entry  to    close. 


Inventory,  Dec.  31,  19 

16009  21 

Sales  

137933 

Purchase  Discounts.  . 

3651  64 

Inventory,  Jan.  1,  19    .... 

18747  16 

Purchases  

122538  34 

Sales  Discounts  

2175 

Sales  Rebates  and  Allowances 

12  60 

Warehouse  Expense  and  Labor.  .  .  . 

2178  39 

Gross  Trading  Profit.  .  . 

11942  36 

7. 

a.  Gross  trading  profit— No.  1 9. 66% 

b.  Gross  trading  loss— No.  2 3.62% 

c.  Gross  trading  profit— No.  3 9.64% 

8. 
Merchandise. 


Purchases 13769  48 

Returned  sales 60 

Sales  rebates  and  allow 6  48 

Sales  discounts 33  21 

Freight-In 351  07 

Warehouse  supplies 61  37 

Warehouse  labor 72 

Gross  trading  profit 1424  63 


15778  24 


Inventory,  Feb.  1 7619  37 


Sales 

Purchase  discounts. 
Inventory 


8100  08 

58  79 

7619  37 


15778  24 


76  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  10. 
Exercises  in  Analysis  of  Expense  Accounts. 

1. 


Budget  Page  73. 


Items. 


Admin. 
Ex. 


Gen. 
Ex. 


Coal 19  50  -    12  50  32 

Gas 4  27 

Janitor's  supplies  $3  80 3  80  -      2  10|  5  90 

Stationery  and  office  supplies 5  25  -      1  25J        6  50 

Postage 10  CO  -    500-      500      20 

Telegrams 2  40 

Repairing  typewriters 6  15 

Rent '. 90 

Electric  light 4  82 

Telephone 8  40 

Cleaning  office  and  windows 4  25 

Taxes 28  50 

Salaries  of  office  help 124 

Officers'  salaries 250 

417  45       169  74 

Administrative  expenses 417  45 

General  expenses 169  74 

Total  to  Expense  % : . :     587  19 

•; 2.    January. 

T  Admin.       Gen. 

ItemS>  Ex.  Ex. 

Rent 125 

Car  tickets 5 

Coal 26 

Postage 10  00  -    15  00  -    10  00      35 

Taxes 5  23 

Salaries  of  office  force 154  00  -  154  00    308 

Officers'  salaries 250  00  -  250  00     500 

Telephone 3  20  -      9  25       12  45 

Janitor's  supplies , . .     2  90  -      6  15  *     9  05 

Stationery  and  office  supplies 21  50 

Printing 12 

Repairs  on  office  furniture : 4  75 

Gas 4  90 

Electric  light 4  22 

Attorney's  fees 10 

898  95      214  15 

j  " 


2.     February. 


77 


Items. 


Admin. 
Ex. 


Gen. 
Ex. 


Rent |  125 

Repairs  on  typewriters 4  85 

Traveling  expense  of  officer 42  50 

Coal 31  50  -  25  00  56  50 

City  directory .|  8  50 

Office  supplies  and  stationery ...  1  15  -  12  50  -        75        14  40 

Printing 6  25  -  15  25  !      21  50 

Telegrams 1  30  -    1  90          3  20 

Janitor's  supplies 2  15  -    3  90  6  05 

Typewriter  supplies 3  20  -        95          4  15 

Cleaning  offices  and  windows 3  50 

Postage 10  00  -    15  00        25 

Salaries  of  office  force 154  00  -  154  00      308 

Salaries  of  officers 250  00  -  250  00      500 

Meals  for  employees I        2  50 

Electric  light 4  48 

Gas : I  527 

Attorney's  fees j      15 

Telephone |      10  60 

[  951  70      209  30 

2.     March. 

Admin.       Gen. 
Ex.  Ex. 

Rent 125 

Postage 10  00    -  5  00  -  10  00        25 

Papering  offic  19  80 

Stationery  and  office  sup.  $6  25  -  1  20    -  5  30  -    1  65        14  40 

Street  improvement  assessment 17  28 

Repairs  on  fire  doors  and  shutters 16  50 

Janitor's  supplies 1  95  -      1  75  3  70 

Printing 540-      180          720 

Meals  for  employees 2  50  -      1  50          4 

Telegrams 180-      190          370 

Telephone «. 225-      925         1150 

Typewriter  supplies 1  40 

Coal 12  50  -      6  25  j  18  75 

Salaries  of  office  force 154  00  -  154  00  |    308 

Salaries  of  officers 250  00  -  250  00  j    500 

C  eaning  offices  and  windows j  3  50 

Traveling  expense  of  officer j      21  50 

Gas :  :         4  07 

Electric  light. .1  3  98 

Car  tickets 5 

Attorneys'  fees 12 

908  70      217  58 


78 


-a  6 

•8  a 

EH  co 

to   CO   rH           to                         OO                  "^    H^    C^                         OO                  t**           O^           t"**           CO 

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^O                                  eO                      ts*  00                                        cO         CO         00         cO 
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1OCM                                rH                      t>-rHI>                                »O                      «O 

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O 

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to         eo                                eo                    to  ^                    oo              co 

C<1           »O 

8 

4 

g10^     3 

rH 
rH 

11 

H  eo 

»O          CO   t»                                OO                  §    tO           tO 

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i 

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to           ^l    C^l                                        to           t>»   ^l 

s 

nistrative 

Is    6 

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H  ?i 

to          CO  CO                             *O   cO          cO  to          CO 

OO5O                                         OOtOCNrHtO 

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&     38                88     S3     8 

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^              .              ...cJ---^                  °Q          -*^ 

—    ••'E      g        '    :  Jl    :    :    :1           *      ^ 

g      .      .      .    S         «"g            •      •    »            1     i     i  "8                *         ^ 

0 

1 

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1 

:— 

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i 

i  !1.H  !  illp^ltii  | 

1   i  iitlli*  i  1  .ill  !'!!»  l-li  i 

WHOLESALE  SET. 
COMPLEMENTARY  WORK. 

Feb.  19. 

Exercises  in  Entries  for  Notes  and  Drafts. 
Budget  Pages  84-85. 


79 


1.  B.  E.  Anderson 
Wm.  Friend  250 

7.  E.  R.  Grayson 
Notes  Pay  1650 

13.  Lloyd  &  Co. 
Notes  Rec  5000 

Cash 
R.  C.  Adams 
R.  C.  Adams 
Cash 

Notes  Rec. 
Geo.  R.  Hart 

8.  Notes  Rec. 
L.  P.  Vest                  375 

Notes  Rec. 
M.  Grace  &  Co. 
Wells  &  Ray 
Notes  Pay. 
M.  Grace  &  Co 

2.  Arthur  Grayden 
G.  B.  Dean  &  Co...  1000 
Notes  Rec. 

Chas.  Haworth 
Notes  Pay. 

Post  &  Gale 

14.  Notes  Rec. 
G.  S.  Ward                  225 

Harold  Wayne 
Harold  Wayne 
Notes  Pay. 

SThoma.5?  NilanrI 

9.  C.  M.  Russell  &  Co. 
Merchants  S.  Co...  1265 
Dilworth  Bros. 
Cash 

Cfla}l 

W.  A.  Bake- 
Notes  Pay. 

15.  Kennedy  &  Richards 
Notes  Rec  225 

Richard  Shiels  2500 
James  Warren 
Notes  Pay. 
Notes  Rec. 

Dilworth  Bros. 

10.  Wells  &  Ray 
Notes  Pay  940 

Notes  Rec. 
W.  A.  Baker 

16.  Notes  Rec. 
Cash                              500 

James  Warren 

4.  Harry  Milton 
Ira  Willis.  .  .                 465 

Notes  Rec 
Wells  &  Ray 
R.  A.  Walters 
James  Harris 

Cash 
Notes  Pay. 

17.  Notes  Rec. 

H.  M.  Grayson  400 

JJavid.  irvin 
Notes  Pay. 
Notes  Rec. 

11.  Wood  &  Co. 
Henry  Smith  100 

Johnson  &  Davis 
Notes  Rec. 

5.      David  Irvin 

5.  Cash 
Andre  Danvers  750 
F.  G.  Botsford 
Frank  Archer 
Andre  Danvers 
Cash. 

R.  A.  Walters 
Cash 
Cash 
R.  A.  Walters 

12.  Notes  Rec. 
C.  P.  Wilson  &  Co.  .  530 
Karl  Mosby 
Notes  Rec. 

Notes  Rec. 
R.  J.  Campbell 
H.  M.  Grayson 
Henry  Smith 
R.  J.  Campbell 
Notes  Pay. 

18.  Dee  &  Co. 
J.  A.  Amsbaugh  & 
Co  .    .     .     75 

6.  Cash 
Earle  Winthrop  140 
H.  M.  Grayson 
Cash 

C.  P.  Wilson  &  Co. 
J.  A.  Amsbaugh  &  Co. 
H.  Arnold  &  Co. 
Notes  Pay. 

James     Harris 
Cash 
Cash 
James  Harris 

80  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  19. 
Exercises  in  Entries  for  Notes  and  Drafts. — Continued. 


19.  Merchants  S.  Co. 

21.  Notes  Rec. 

Notes  Rec. 

Cash                            630 

Notes  Pay                  375 

Earle  Winthrop 

R.  A.  Walters 

Notes  Rec. 

E.  R.  Grayson 

J.  M.  Reed  &  Co. 

Notes  Pay. 

Martin  &  Co. 

J.  M.  Reed  &  Co. 

Earle  Winthrop 

Merchants  S.  Co. 

22.  Notes  Rec. 

Notes  Pay. 

M.  Grace  &  Co...   1000 

Notes  Rec. 

20.  Notes  Rec. 

Geo.  R.  Hart 

Notes  Rec. 

Wm.  Wright  100 

Post  &  Gale 

Notes  Rec. 

L.  A.  Brown 

M.  Grace  &  Co. 

Notes  Rec. 

Cash 

Notes  Pay. 

Cash 

Notes  Pay. 

23. 


Notes  Rec 950 

Notes  Rec 800 

Wm.  Brown 1750 

Richard  Percy 1750 

Notes  Pay 950 

Notes  Rec. .  .  800 


Wm.  Brown 

James  Walker. 
Robert  Hanover 

Notes  Pay 


..  800 

.  800 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  19. 

Exercise  in  Analysis  of  Selling  Expense. 
Budget  Page  85. 

1. 


81 


Advertising 28  50  -  5  00  -  15  50  49 

Entertaining 20 

Mercantile  reports 11  50 

Salesman's  salary 50  00  -  50  00  100 

Sample  case 6  50 

Sample  goods 4  85 

Total  selling  expenses I    191  85 

Grouped  for  profit  and  loss  statement 

Salesman's  salary 100 

Advertising 49 

Entertainment 20 

Miscellaneous 22  85       191  85 

2. 
Analysis  of  delivery  expense  %. 

Gasoline 14  00  -  6  20    48  25 

Oils 5  20  -    3  15  8  35 

Driver's  wages 30  00  -  30  00  60 

Tires 72  40 

Tubes 21  50  -  10  75  32  25 

Driver's  license 2  50 

Bridge  tolls 75  -      50  1  25 

201  75 

Grouped  for  profit  and  loss  statement 

Gasoline  and  oils 33  35 

Driver's  wages 60 

Tires  and  tubes 104  65 

Miscellaneous...  3  75      201  75 


82  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  28. 

Exercises  in  Preparing  Statements. 
Budget  Pages  94-95. 

1. 

Trading  and  Profit  &  Loss  Statement,  August  31,  19 
The  Wallace  Co. 


Returns. 

Gross  sales 16786  72 

Less.-Returned  sales 24  55        16762  17 

Less,-Sales  rebates  and  allowances 26  78    ' 

Less.-Sales  discounts 33921  36599 

Net  returns  from  sales 16396  18 

Costs. 

Inventory,  July  31,  19     2421  61 

Purchases  for  August 15451  93 

Less,  -Goods  taken  for  private  use  at  cost 24  60 

Less,  -Goods  donated  to  charity  at  cost , 32  16 

Less.-Rebate  for  shortage 3  07 

Les3,-Purchases  returned 46  58 

Less.-Goods  shipped  for  sale  on  commission 102  65      209  06       15242  87 

Freight-In  on  purchases •. . . .         425  11 

Warehouse  supplies 119  13 

Warehouse  labor 125 

Total  cost  of  purchases ""18333  72 

Less.-Purchase  discounts 378  25 

Net  cost  of  purchases 17955  47 

Less.-Inventory,  August  31,  19     3876  56 

Cost  of  merchandise  sold 14078  91 

Gross  trading  profit  for  the  month 2317  27 

Incomes. 
Interest 31  06 

Total  income 2348  33 

Expenses. 
Selling  expenses 

Salesman's  salary 95 

Advertising 22  50 

Entertainment 16  50 

Miscellaneous 3  26      137  26 

Traveling  expenses 21  95 

Delivery  expenses 

Gasoline  and  oil 23  78 

Driver's  wages 60 

Tires  and  tubes 19  50 

Miscellaneous 3  79      107  07 

Freight-Out 36  12 

Total  selling  expenses 7 302  40 

Administrative  expenses 

Office  supplies  and  stationery 18  72 

Postage,  telegrams  and  telephone 18  47 

Salaries  of  partners 300 

Salaries  of  office  force 78 

Miscellaneous 1  14          41633 

General  expenses 

Rent.  85 

Fuelandlight 11  42 

Miscellaneous 8  43          104  85 

Insurance  expense '• 4  35 

Total  expenses I  827  93 

Net  profit  for  the  month j  1520  40 

Distribution  of  profit 

R.  M.  Wallace,  Capital  %,  §  profit 1013  60 

A.  D.  Wallace,  Capital  %,  |  profit 506  80          1520  40 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  28— Continued. 

Exercises  in  Preparing  Statements. 

Budget  Pages  94-95. 

1. 

Statement  of  Resources  and  Liabilities,  August  31,  19 
The  Wallace  Co. 


83 


Resources. 
Cash 

4636  02 

Petty  Cash  Drawer 

150 

Inventory,  August  31  19 

3876  56 

Notes  receivable 

4276  21 

Accounts  receivable 

6624  83 

Total  current  resources  

19563  62 

Delivery  equipment  

2260 

Furniture  &  fixtures 

572  19 

Insurance* 

77  45 

Sundry  resource  inventories  

76  42 

153  87 

Total  resources  

22549  68 

Liabilities. 
Notes  Payable  

2754  19 

Accounts  Payable  

2976  78 

Total  current  liabilities  

5730  97 

R.  M.  Wallace,  Personal  %  

15  18 

Sundry  liability  inventories  

18  76 

Total  liabilities  

5764  91 

Net  resources  

16784  77 

Represented  by 
R.  M.  Wallace,  Capital  %                                    10176  25 

Add  2/3  profit  for  August  1013  60 

11189  85 

A.  D.  Wallace,  Capital  %  5088  12 

Add  1/3  profit  for  August  506  80 

5594  92 

16784  77 

Journal  Entry  to  Close. 


Inventory,  August  31,  19    

3876  56 

Sales  

16762  17 

Purchase  

378  25 

Interest 

31  06 

Inventory 

2421  61 

Purchases  

15242  87 

Freight-In.  ... 

425  11 

Warehouse  Supplies  .  . 

119  13 

Warehouse  Labor 

125 

Sales  Rebates  &  Allowances 

26  78 

Sales  Discounts  

339  21 

Selling  Expense  

137  26 

Traveling  Expense  

21  95 

Delivery  Expense  

107  07 

Freight-Out 

36  12 

Expense 

521  18 

Insurance  Expense 

4  35 

R.  M.  Wallace,  Capital  %,  2/3  profit 

1013  60 

A.  D.  Wallace,  Capital  %,  1/3  profit  

506  80 

84  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Feb.  28— Continued. 

Exercises  in  Preparing  Statements. 

Budget  Pages  94-95. 

2. 

Trading  and  Profit  &  Loss  Statement,  December  31,  19    . 
C.  B.  Martin  &  Co. 

Returns. 

Grosssales 30291  89 

Less,  -Goods  returned j  77  16        30214  73 

Less.-Sales  rebates  and  allowances |  79  16    • 

Less.-Sales  discounts |  704  52    i        783  68 

Net  returns  from  sales 294131  05 

Costs. 

Inventory,  November  31,  19     367814    ! 

Purchases 26495  03  ! 

Less.-Goods  returned 132  16 

Less.-Goods  donated  to  charity  at  cost 52  25 

Less.-Purchase  rebates  and  allowances 37  41      221  82      26273  21 

Freight-In  on  Purchases 769  19 

Warehouse  supplies 176  19 

Warehouse  labor 180  50 

Total  cost  of  purchases 31077  23 

Less.-Purchase  discounts 698  12 

Net  cost  of  purchases 30379  11 

Less.-Inventory,  December  31,  19     5227  86 

Cost  of  merchandise  sold ~~  25151  24 

Gross  trading  profit  for  the  month 4279  80 

Incomes. 

Interest 27  14 

Total  income 4306  94 

Expenses. 
Selling  expenses 

Salesman's  salary  (C.  D.  Harrison) 100 

Advertising. : 56  25 

Entertainment 31  80 

Miscellaneous 7  09      195  14 

Traveling  expense  (C.  D.  Harrison) 53  82 

Freight-Out  on  sales 177  23 

Delivery  expenses 

Horse  feed  and  supplies 25  68 

Wagon  maintenance 7  15 

Driver's  and  helper's  wages 75 

Miscellaneous 5  67      113  50 

Total  selling  expenses 539  69 

Administration  expenses. 

Office  supplies  and  stationery 42  75 

Postage,  telegrams  and  telephone 26  78 

Salaries  of  partners 400 

Salaries  of  office  help 120 

Miscellaneous 2  18          591  71 

General  expenses 

Rent 100 

Fuel  and  light 55  12 

Miscellaneous 9  56          164  68 

Insurance  expense 10  75 

Total  expenses - .  1306  83 

Net  profit  for  the  month 3000  11 

Distribution  of  profit 

C.  B.  Martin,  Capital  %,  f  profit 2000  07 

D.L.  Burton,  Capital %,  J  profit 100004    !      300011 


WHOLESALE  SET.  85 

COMPLEMENTARY  WORK. 

Feb.  28— Continued. 

Exercises  in  Preparing  Statements. 

Budget  Pages  94-95. 

2. 

Statement  of  Resources  and  Liabilities,  December  31,  19    . 
C.  B.  Martin  &  Co. 

Resources. 

Cash !  7166  77 

Petty  Cash  Drawer 200 

Inventory,  December,  31,  19    5227  86 

Notes  Receivable 3976  49 

Accounts  receivable J13649  13 

Total  current  resources |  30219  25 

Furniture  &  fixtures 947  25 

Delivery  equipment 4475 

Insurance ^ 118  25 

Sundry  resource  inventories 112  06        230  31 

Total  resources ~  35891  81 

Liabilities. 

Notes  payable 2698  47  j 

Accounts  payable 5748  35 

Total  current  liabilities 8446  62 

Sundry  liability  inventories 27  45  j 

C.  D.  Harrison,  Salesman 3  16  j 

Total  liabilities ~  ~;    8477  43 

Net  resources j  27414  38 

Represented  by 

C.  B.  Martin,  Capital  % 16276  18 

Add  2/3  profit  for  December 2000  07  J18276  25 

D.  I.  Burton,  Capital  % 8138  09 

Add  1/3  profit  for  December 1000  04  j  9138  38  |  27414  38 

Journal  Entry  to  Close. 

j 

Inventory,  December  31,  19     i  5227  86 

Sales J30214  73 

Purchase  Discounts I  698  12 

Interest 27  14 

Inventory,  November  30,  19    3678  14 

Purchases 26273  21 

Freight-In 769  19 

Warehouse  Supplies 176  19 

Warehouse  Labor 180  50 

Sales  Rebates  &  Allowances 79  16 

Sales  Discounts 704  52 

Selling  Expense 195  14 

Traveling  Expense 53  82 

Delivery  Expense 113  50 

Freight-Out 177  23 

Expense 756  39 

Insurance  Expense 10  75 

C.  B.  Martin,  Capital  %,  2/3  profit 2000  07 

D.  I.  Burton,  Capital  %,  1/3  profit. 1000  04 


86  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

Exercises  in  Analysis  of  Statements  on  a  Percentage  Basis, 
February  28. 


Statement 


1. 


2. 


3.  Per  cent  of  gross  trading  profit 16 .46%  17 .02% 

5.  Per  cent  of  net  trading  profit 14.31%  14.87% 

6.  Per  cent  of  sales  returned -15%  -25% 

7.  Per  cent  of  rebates  and  allowances  on  sales 16%  .26% 

9.  Per  cent  of  cost  of  purchases  represented  by  ware- 
house expenses 1.33%  1.15% 

10.  Per  cent  of  purchase  discounts  on  purchases 2.06%  2.25% 

11.  Per  cent  of  sales  discounts  on  sales 2 .02%  2 .33% 

12.  Per  cent  of  net  sales  required  to  meet  selling  ex- 

penses   1.80%  1.79% 

13.  (a)  administrative  expenses 2 .48%  j    1 .96% 

(b)  general  expenses 63%  .55% 

14.  Per  cent  of  gross  trading  profit  required  to  meet  all 

expenses 35 .73%  30 .53% 

15.  (a)  selling  expenses 13 .05%  12 .61% 

(b)  administrative  expenses 17 .96%  13 .83% 

(c)  general  expenses 4.52%  3 .85% 

16.  Per  cent  to  be  added  to  cost  price  to  meet 

(a)  selling  expenses 2.15%  2.15% 

(b)  admin,  expenses 2.96%  2.35% 

(c)  general  expenses .74%  .65% 

18.  Per  cent  of  net  profit  on  capital  invested 9 .96%  12 .29% 


March  4. 

Exercises  in  Merchandise  Accounts. 

1. 


Budget  Page  100. 


Purchases. 
Costs. 


43756 

4386 

39370 

3600 

35770 

20 

7154  00      Profits. 
J35770  Costs. 

Gross  Sales. 


Cost  of  mdse.  purchased. 

Inventory 

Cost  of  merchandise  sold. 


42924 

4386 

38538 


Bal.  of  sales  accounts. 


Sales. 

Deductions. 
2141 
1263 

214 

768 
4386 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

March  4— Continued. 

Exercises  in  Merchandise  Accounts.    Budget  Page  100. 

2. 


87 


Purchases. 


Deductions. 

1963  56 

591  12 

843  72 


3398  40 


87643  12 

3398  40 

84244  72  Net  returns  from  sales. 

16848  94  Profit. 

67395  78  Cost  of  merchandise  sold. 

8347  56  Inventory. 

75743  34  Total  debit  footing. 


3. 


68946  32 
721  81 

Purchases. 
Costs. 

Sales. 
Returns.                  Deductions. 
59843  42                        1949  12 
5076  37                       3127  25 

322  60 
112  20 
2489  12 

54767  05                       5076  37 

72592  05 
2753  65 

Total  cost. 
Prch.  Disc't. 

69838  40 
14344  85 

Net  cost. 
Inventory. 

55493  55 
54767  05 

Cost  of  goods  sold. 
Net  returns. 

726  50    Gross  trading  loss. 

March  7. 

Exercises  in  Analysis  of  Merchandise  Accounts. 
Budget  Page  102. 


1.  $  745  71  -  13.35% 

2.  298  24  G.  T.  P.  -  $64  95  N.  L. 

3.  183  38  G.  T.  L.  - 15.99% 

4.  1635  17 

5.  883  47 

6.  508888-8.82% 


7.  $  1202  21 

8.  2570  13  -  $  2395  45 

9.  178660  56  -  119107  04 

10.  29300 

11.  3742  86  -  3555  72 

12.  42750 


March  4. 

Exercises  in  Calculating  Discounts. 
Budget  Page  105. 

1.  $  25  65 

2.  $  92  64 

3.  8  mo. 

4.  $375  00 


88 


WHOLESALE  SET. 
COMPLEMENTARY  WORK. 

March  16. 

Exercises  in  Opening  Double  Entry  Books. 
Budget  Page  106. 


1. 

Cash 3500 

Purchases 1440 

Notes  Receivable 760 

Interest 73  35 

Nat'l  Bank  Stock 5000 

Store  Room  and  Lot 8000 

Accounts  Receivable 1363 

Archie  Carlton,  Cap.  % 


20136  35 

1000 
36 
3000 

204  45 

400 

150 


Archie  Carlton,  Cap.  %....  4790  45 

Notes  Payable 

Expense 

Mortgages  Payable 

Profit  &  Loss 

John  Ray 

Notes  Payable 

Cash 1600 

Factory,  Investment 2500 

Gas  Co.  Stock 5000 

Dividend 500 

Notes  Receivable 3300 

Commission 780 

Notes  Receivable 300 

Motor  Mfg.  Co.  Stock 1600 

Lester  Boyd,  Cap.  %. . .  15580 

Lester  Boyd,  Cap.  % 660 

Profit  &  Loss 660 

2. 

Cash 2600 

Notes  Receivable 2050 

N.  E.  Nash,  Personal  %....  150 

Patents 3760 

Delivery  Equipment 5000 

Mch.  and  Imp.  Investment  3650 

Materials 1750 

Accounts  Receivable 1253 

Stone  Quarries 8000 

Notes  Receivable 1000 

Wheeling  Contract 2000 

N.  E.  Nash,  Cap.  %. . .  31210 


N.  E.  Nash,  Cap.  % 6210 

Mortgages  Payable 

Interest 

Labor  % 

Accounts  Payable 

Notes  Payable 

Interest 

Cash looo 

Brick  Yard,  30th  Ward 4000 

Brick  Machinery  % 9000 

Materials 1800 

Carterville  Contract 10000 

Mch.  and  Imp.  % 2700 

Materials 1800 

F.  G.  Botsford,  Cap.  % 

F.  G.  Botsford,  Cap.  %. . . .  6200 

Fidelity  Trust  Co 

Bonds  &  Mortgages  Pay. 
Notes  Payable 

3. 

Cash 64000 

R.  C.  Carroll 

S.  A.  Richards. . . 


D.  M.  Porter 

R.  C.  Carroll. . 
S.  A.  Richards. 


12000 


4. 

Market  St.  Property 16000 

Real  Estate  Income 235 

Furniture  &  Fixtures 275 

Delivery  Equipment 496 

C.  Capital  % 

C,  Capital  % 4120 

Bond  &  Mortgage  Pay. 
Interest 

Purchases 15675 

Notes  Receivable 1287  50 

Accounts  Receivable. .         .  3426  20 


31200 

700 

5000 

500 


32000 
32000 

6000 
6000 


17006 

4000 
120 


D,  Capital  % 


WHOLESALE  SET.  89 

COMPLEMENTARY  WORK. 

March  16. 
Exercises  in  Opening  Double  Entry  Books— Continued. 


D,  Capital  % 7669  75 

Notes  Payable 6524  50 

Accounts  Payable 1145  25 


Purchases 11486  70 

fe.R.  Stock 6000 

Accounts  Receivable 3375 

,  Personal  % 675 

E,  Capital  % 21536  70 


E,  Capital  % 7320  50 

Notes  Payable 1000 

Profit  &  Loss 675 

Accounts  Payable 5645  50 

5. 

Cash 20000 

Notes  Receivable 1000 

Interest 45 

Notes  Receivable 1455 

H,  Capital  % 22500 


March  25. 

Adjustment  of  Interest  between  Partners. 
Budget  Page  113. 


1. 
nterest  on  Capital 1260 

A,  Personal  % 

B,  Personal  % 


960 
300 


Interest  on  Capital. 

C,  Personal  %. 

D,  Personal  %. 

E,  Personal  %• 


2. 


1545 


690 
720 
135 


90 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 


March  18. 

Adjustment  of  Losses,  Gains,  Invest- 
ments, etc.,  between  Partners. 
Budget  Page  109. 


March  22. 

Exercises  in  Adjusting  Balances 

between  Partners. 

Budget  Page  111. 


1. 


.  H.  Doughty,  Cap.  %. . . .  8100 

Cash 4400 

Notes  Rec 3700 

,  A.  Amsbaugh,  Cap.  %. .  .11270 

rofit  &  Loss 630 

Purchases 5600 

Accounts  Rec 6300 

'otes  Pay 2200 

ccounts  Pay 1100 

J.  A.  Amsbaugh,  Cap.  %  3300 

rofit&Loss 11370 

J.  A.  Amsbaugh,  Cap.  %  5685 

F.  H.  Doughty,  Cap.  %  5685 

us:    Doughty  Dr.  to  Amsbaugh  $285 

2. 

,,  Capital  % 38000 

\,  Capital  % 38000 

lood-will 15000 

A,  Capital  % 22750 

B,  Capital  % 22750 

C,  Capital  % 22750 

D,  Capital  % 22750 


1. 

A,  Capital  % 1129  78 

B,  Capital  % 

C,  Capital  % 

2. 

E,  Capital  % 2237  67 

F,  Capital  % 89153 

D,  Capital  % 

Cash 15585  45 

G,  Capital  % 

3. 

H,  Capital  % 23746  17 

I,  Capital  % 

J,  Capital  % 

K,  Capital  % 

|   K,  Capital  % 16853  05 

I,  Capital  % 

J,  Capital  %. 

4. 

M,   Capital  % 325 

L,  Capital  % 

5. 

I   P,  Capital  % '    H2 

O,  Capital  % 

Q,  Capital  % 

6. 

Cash 268  80 

0 33  60 

Q 33  60 

R.. 


325 


56 
56 


336 


WHOLESALE  SET. 


91 


COMPLEMENTARY  WORK. 

March  31. 

Exercises  in  Preparing  Statements.     Budget  Pages  120-121. 
1.    Trading  and  Profit  &  Loss  Statement,  Harold  Wayne. 


Returns. 

Sales 5890 

Costs. 

Purchases !      5190 

Warehouse  Expense 121 

Total  cost  of  purchases 5311 

Gross  trading  profit 579 

Incomes. 

Real  estate  income 1765 

Commission 425 

Interest 77 

Gross  income |  2846 

Expenses. 

Administration  expense |       800 

General  expense 1050 

Total  expenses 1850 

Net  profit ;  996 

1.     Statement  of  Resources  and  Liabilities,  Harold  Wayne. 

Resources. 

Cash 675 

Inventory 460 

Notes  receivable 1490 

Accounts  receivable 4830 

Total  current  resources 7455 

Real  estate  investment 500 

Railroad  stock  investment 1500 

National  Bank  stock  investment 1000 

Sundry  resource  inventories 115 

Total  resources 10570 

Liabilities. 

Notes  payable 650 

Accounts  payable 945 

Total  current  liabilities |      1595 

Sundry  liability  inventories |        350 

Total  liabilities !  1945 

Net  resources 8625 

Represented  by 
Harold  Wayne,  Capital  % i      7629 

Add  profit  for  period j       996          8625 


92  WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

March  31— Continued. 

Exercises  in  Preparing  Statements. 

Budget  Pages  120-121. 

2. 
Trading  and  Profit  &  Loss  Statement,  H.  M.  Grayson. 

Returns. 
Sales 1800 

Costs. 

Purchases 1750 

Warehouse  expense !       300 

Total  cost  of  purchases 2050 

Gross  trading  loss 250 

Income. 

Commission 75 

Interest  receivable 175  250 

Expenses. 

Expense 720 

Interest  payable 266 

Profit  &  Loss 60 

Net  Loss j  1Q46 

2. 
Statement  of  Resources  and  Liabilities,  H.  M.  Grayson. 

Resources. 

Cash 375 

Inventory 2450 

Notes  receivable 200 

Accounts  receivable 735    ' 

Total  current  resources 3760 

Horse  &  wagon 360 

Sundry  resource  inventories 53 

Total  resources 4173 

Liabilities. 

Notes  payable 1475 

Mortgages  payable 808 

Accounts  payable. . . . 1960 

Sundry  liability  inventories 76 

Total  liabilities. 4319 

Net  liabilities 146 

Represented  by 

H.  M.  Grayson,  Capital  % 900 

Less  net  loss  for  period 1046  146 


WHOLESALE  SET. 

COMPLEMENTARY  WORK. 

March  31 — Continued. 

Exercises  in  Preparing  Statements. 

Budget  Pages  120-121. 

3. 
Trading  and  Profit  &  Loss  Statement,  M.  Grace. 


93 


Returns. 


Sales 4293 

Costs. 

Purchases 2064 

Gross  trading  profit 2229 

Incomes. 

Interest 789 

Commission 1299 

Total  income !  4317 

I  i 

Expenses. 

Expense 870 

Profit  &  Loss 180 

Total  expenses 1050 

Net  profit  for  period 3267 

3. 

Statement  of  Resources  and  Liabilities,  M.  Grace. 

Resources. 

Cash 332 

Inventory |      1936 

Notes  receivable 895 

Accounts  receivable 1350 

Total  current  resources |  4513 

Sundry  resource  inventories 430 

Total  resources 4943 

Liabilities. 

Notes  payable 395 

Accounts  payable j      1390 

Total  current  liabilities 1785 

Sundry  liability  inventories 181 

Total  liabilities *  1966 

Net  resources 2977 

Represented  by 

Net  profit  for  period 3267 

Subtract  M.  Grace's  Insolvency 290    ! 

M.  Grace's  Net  Capital 2977 


94 


March  31 — Continued. 

4. 
Trading  and  Profit  &  Loss  Statement,  Rowe  Bros. 


Store. 

Returns. 

Sales 73800 

Less,  -  Returned  sales 1290 

Net  returns  from  sales 72510 

Costs. 

Inventory 32100 

Purchases 34900 

Less,  -  Purchase  rebates 1620      33280 

Warehouse  expense  &  labor 2165 

Import  duties 4721 

Storage 425 

Total  cost  of  purchases 72691 

Less,  -  Purchase  discounts 2814 

Cost  of  goods  sold 69877 

Gross  trading  profit  (Store) 2633 

F.  M. 

Returns. 

F.  M.  flour  sales 20698 

F.  M.  bran  &  feed  sales 4125     24823 

Costs. 

F.  M.  inventory 4000 

F.  M.  wheat  purchases 13240 

F.  M.  labor  &  supplies 2265 

F.  M.  maintenance  &  repairs 936 

Cost  of  manufactured  product 20441 

Gross  trading  profit  (F.  M.) __i382 

Total  gross  trading  profit 7015 

Incomes. 

Elevator  income 7375 

Interest 630 

Total  income 15020 

Expenses. 

Expense 5630 

Elevator  expense I    4165 

Total  expenses 9795 

Net  profit 5225 

Distribution  of  profit 

G.  H.  Rowe,  Cap.  %,  1/3  profit .v !    1741  67 

H.  M.  Rowe,  Jr.,  Cap.  %,  1/3  profit j    1741  67 

E.  W.  Rowe,  Cap.  %,  1/3  profit :    1741  66      5225 


WHOLESALE  SET. 


95 


COMPLEMENTARY  WORK. 
March  31 — Continued. 

4. 
Statement  of  Resources  and  Liabilities,  Rowe  Bros. 

Resources. 

Cash |    3600 

Inventory 19600 

F.  M.  inventory 760 

Accounts  receivable 2865 

Total  current  resources 

Elevator  investment 

F.  M.  investment 

F.  M.  machinery  investment j 

i 
Net  resources 

Represented  by 

G.  H.  Rowe,  Capital  % 24000 

Add  1/3  net  profit 1741  67 

H.  M.  Rowe,  Jr.,  Capital  % 24000 

Add  1/3  net  profit •_!741  67 

E.  W.  Rowe,  Capital  % 24000 

Add  1/3  net  profit 1741  66 


26825 
8000 

36000 
6400 


77225 


25741  67 


25741  67 


25741  66  77225 


2240 


YC  45035 


UNIVERSITY  OF  CALIFORNIA  LIBRARY 


